The Gotianun owned bank will have their IPO this May 2012.
After last year’s stellar performance, the bank will finally list in the Philippine Stock Exchange to take advantage of the foreseen growth in the Philippine economy. With expansion plans to put up branches in the provinces and to extend their products beyond their mid-market corporate clients to consumer products, the Filinvest Development Corp. subsidiary will make is debut in the Philippine Stock Exchange.
Press releases have a 18.50 - 23.50 pesos per share price on the bank’s listing day.
|source: Philippine Stock Exchange|
With their new logo and their new tag line “Your Dream Our Focus” the management of EastWest Bank are positive about their expansion plans of which the proceeds of the IPO will be allocated to settle the bank licenses acquired from Bangko Sentral and for the construction of bank branches.
EastWest bank may not be one of the top 10 banks in the Philippines but it is the fastest growing bank. That has been the driving force of the company and thus the IPO will make that goal, to be one of the top banks in the Philippines, a reality. With more branches to capture part of the banking/loans market of the Philippines plus the positive outlook of the Philippine economy, EastWest bank’s IPO could be a good investment.
Disclaimer: Trade at your own risk. The opinion of the blogger in regards to EastWest Bank’s IPO is his personal opinion.