RCBC raises P15B from stock rights offer
Rizal Commercial Banking Corp. shored up new capital from investors.
Yuchengco-led RCBC successfully raised P15 billion from a stock rights offering. It sold 535.7 million common shares for P28 each.
Proceeds from the offering will be used to fund the increase in the bank’s capital stock in compliance with the minimum capital requirement set by the Bangko Sentral ng Pilipinas.