EXCERPT

UnionBank priced its rights offering—a type of share sale reserved for current stockholders—at P64.81 per share, a stock exchange filing showed on Tuesday. This was near the low end of the indicative range of P64.55 to P73.78 per share.

UnionBank said the pricing was based on the average value of shares for the past 15 days, further discounted by 30 percent.

Stockholders could buy one rights share for every 2.47 shares held, the lender added in the filing.

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