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Philippine National Bank Plans $300 Million Share Sale To Boost Capital-DJ


Monday, 22 Jul 2013 03:28am EDT 

Dow Jones reported that Philippine National Bank is planning on raising around $300 million from the sale of new shares later this year to buttress its capital ahead of the implementation of the stricter requirements under Basel III, the lender said on July 22, 2013. The bank confirmed to the stock exchange a news report in Businessworld that quoted Omar Byron Mier, president of the lender, saying the bank had decided earlier to push back the planned capital-raising because of poor market conditions. 

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