PSE Circular for Brokers No. 881-99
PSE Circular for Brokers No. 881-99 • Philippine Stock Exchange • Circulars for Brokers • Apr 26, 1999
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April 26, 1999 PSE CIRCULAR FOR BROKERS NO. 881-99 SUBJECT : Chinatrust (Philippines) Commercial Bank Corporation Final Offer Price and Use of Proceeds EXECUTIVE SUMMARY Further to Circular No. 766-99 dated April 15, 1999, please be informed of the final offer price and use of proceeds pertaining to the Initial Public Offering of Chinatrust (Philippines) Commercial Bank, Corporation (the "Company"), to wit: OFFER PRICE P12.40 per share USE OF PROCEEDS The net proceeds to the Company is estimated to be P424 . 04 million after deducting expenses payable by the Company. The net proceeds will be used to partially fund the expansion of the Company's loan portfolio and its branch expansion and automation project. Details of the use of net proceeds from the Offer will be applied as follows: Estimated Allocation of the net IPO Proceeds: Loan Portfolio P282.66 million Computer Projects 111.54 million Branch Expansion 29.84 million Total Allocation P424.04 million Gross Proceeds from the Offer P465.00 million Estimated IPO Expenses 40.96 million Net Proceeds P424.04 million For your information and guidance. (SGD.) JOSE LUIS U. YULO, JR. President & CEO
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