The Board of Directors of East West Banking Corporation (the “Corporation”) at its meeting held on 27 August 2026, approved the conduct of a stock rights offering to raise gross proceeds of up to Php9.0 billion, through the issuance of common shares from the Corporation’s authorized but unissued capital stock (the “Rights Shares”, and the offer, the “Rights Offer”). The Rights Offer will be made to eligible stockholders of record as of a record date to be determined, and the common shares to be issued pursuant thereto will be applied for listing on The Philippine Stock Exchange, Inc. (the “PSE”). Any Rights Shares that remain unsubscribed after the exercise of stockholders' rights will be offered to qualified buyers in the Philippines.
In connection with the foregoing, the Board of Directors also approved: (i) the delegation to the Chief Executive Officer of the authority to determine and finalize (within the terms of such delegation) the final terms, conditions, structure, and implementation of the Rights Offer; (ii) the filing of all required applications, registration or exemption submissions, and other documentary requirements with the Bangko Sentral ng Pilipinas, the PSE, and such other regulatory authorities as may be required in connection with the Rights Offer; and (iii) the engagement of issue managers, underwriters, financial advisors, legal counsel, registrars, stock and transfer agents, receiving agent/bank, escrow agent, and such other advisers or agents as may be necessary for the implementation of the Rights Offer.
The final terms and conditions of the Rights Offer, including the issue size, entitlement ratio, offer price, ex-rights date, record date, and offer period, have not yet been determined. The Rights Offer shall be subject to applicable regulatory approvals including approval or no objection of the Monetary Board of the Bangko Sentral ng Pilipinas and the listing of the Rights Shares with the PSE. |