BDO targets record-breaking rights on share sale

Banco de Oro is all set for the biggest share sale in the country when it offers up to 895 million common shares in a rights offer to investors at P48.60 a piece in an attempt to raise US$1.88B – the biggest ever equity deal in the country. The previous record was US$611-M raised by Cebu Pacific during its initial public offering (IPO) in October 2010. The rights offer is intended to support BDO’s play to participate in the government’s PPP program through financing.

Read more on Rappler