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Rizal Commercial Banking completes rights offering

Philippine-based Rizal Commercial Banking Corp. issued 535,710,378 common shares under its rights offering to raise 15 billion pesos.

The bank offered 1 rights share for every 2.6132 shares held at 28 pesos apiece. The offering was completed June 29, the bank said July 4. Following the offering, the bank said its issued and outstanding shares totaled 1,935,628,775.

As of July 4, US$1 was equivalent to 53.46 Philippine pesos.