The banking arm of the Rebisco Group is slated on May 17, 2013.
It will be the second IPO this year following the lead of Philippine Business Bank which made its debut last February. With the increase in construction there is a need for financing and that is where banks come in. Also with domestic spending seen as the key factor in Philippines driving force for its growth, banks are needed to supplant that need.
Details of the said IPO is available here
- Name of Company: Asia United Bank
- Offer price: Price range of Php 80.00 - Php 110.00 of which final determination to be made on May 3, 2013
- Total shares to be listed: 102,857,140 million common shares
- Expected listing date: May 17, 2013