Love your own: GT Capital to avail of Metrobank’s P60B share sale
The bank’s stock rights offering won’t have to search far and wide for investors.
Metropolitan Bank & Trust Company (Metrobank) bared on Thursday, Jan. 18 that they are looking to raise as much as P60 billion in fresh capital by offering 819.8 million common shares.
The bank said it will use the additional funding will allow the lender to accelerate loan expansions for both corporate and retail segments.
It turns out that Metrobank won’t have a hard time looking for new sources of investments, as its parent firm GT Capital Holdings, Inc. pledged to fully subscribe in the stock rights offer.
Bilyonaryo George Ty’s main firm owns 36.09% of Metrobank.