PSE Circular for Brokers No. 1108-99
PSE Circular for Brokers No. 1108-99 • Philippine Stock Exchange • Circulars for Brokers • May 17, 1999
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May 17, 1999 PSE CIRCULAR FOR BROKERS NO. 1108-99 SUBJECT : Equitable Banking Corporation In reply to the Exchange's query regarding a news article published in the May 14, 1999 issue of the Business World, which reported that Equitable Banking Corporation ("EBC") is looking for a strategic partner in its acquisition of Philippine Commercial International Bank ("PCI"), the company, in a letter to the Exchange, confirmed that: ". . . We confirm that EBC and its co-buyers (in the acquisition of 72% of PCIBank's outstanding capital stock) have received and are still receiving offers from foreign investors to participate in said acquisition. We, likewise confirm that we are discussing with some of these interested foreign investors but have not concluded anything definite. Consequently, we are not at liberty to disclose the identities of said interested foreign investors since no firm commitments have been forged. Rest assured that we will advise you soonest when we arrived at more concrete arrangements. . . ." For your information. (SGD.) RAFAEL L. LLAVE Chief Operating Officer
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