GOTIANUN-LED EastWest Banking Corp. aims to raise P10 billion through the conduct of a stock rights offering (SRO) sometime in the third or fourth quarter of the year. EastWest Bank Chairman Jonathan Gotianun said the bank may conduct an SRO later this year to raise funds for general corporate purposes. The company is studying whether to look for foreign partners who may be allowed to subscribe up to 20 percent of the offer or equivalent to P2 billion. EastWest has said it will focus further on growing its base to improve business operations rather than expanding its store network. “I think our main focus right now is to try to grow our base.

Source: Manila Times May 06, 2018 16:18 UTC