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× PNB raises funds via shares sale

Tycoon Lucio Tan-led Philippine National Bank (PNB) has completed a P12-billion fundraising through the sale of new shares to existing stockholders.


In a disclosure to the Philippine Stock Exchange, PNB said it had issued 276.62 million shares at a preemptive rights offering at the price of P43.38 per share.


"The additional funding gives PNB more resources to be able to continue our…