Filinvest Group commits to fully back EastWest's P9B stock offering

Filinvest Development Corporation (FDC) has reaffirmed its support for East West Banking Corporation’s growth strategy, committing to subscribe to its full entitlement under the bank’s P9-billion stock rights offering (SRO).

FDC and its subsidiary FDC Ventures Inc., EastWest’s principal shareholders, will each take up their respective entitlements following the bank’s announcement of a final offer price of P10.80 per share.

The Filinvest Group also committed, through a wholly owned subsidiary, to subscribe to any shares left unsubscribed after the institutional offer, subject to the terms of the offering.

“We believe strongly in EastWest's long-term growth prospects and its strategy to build a stronger consumer, wealth, and digital banking franchise,” FDC president and chief executive officer Rhoda A. Huang said.

“Our continued support reflects our confidence in the Bank's direction and our commitment to providing the capital needed to sustain its growth and expansion,” she added.

The stock rights offering is expected to strengthen EastWest’s capital base and fund key priorities, including digital transformation, the expansion of its wealth and priority banking services, and lending growth across customer segments.

The commitment from its principal shareholders provides additional backing for the bank’s capital-raising effort as it pursues its long-term expansion plans.