May 13, 2013

Asia United Bank sets market debut

Asia United Bank (AUB), which is wrapping up its P8.36-billion initial public offering, will join the Philippine Stock Exchange (PSE) on Friday, May 17, 2013. In an international bookbuilding early this month, the AUB order book was five times oversubscribed with approximately 90 investors.

The commercial bank priced its shares at P95 each (1.5x price-to-book), well within the P80-P110 indicative range, to encourage aftermarket support, according to Lauro Baja III managing director of UBS Investments Philippines Inc. - WealthSec