Stock Commentary

Union Bank SRO shares list today

Merkado Barkada
Union Bank SRO shares list today

The shares from the Union Bank [UBP 34.00, down 3.7%; 43% avgVol] stock rights offering (SRO) [link] will be listed today. Of the ~327 million common shares for sale in the SRO, 319 million were sold in the 1st round of the SRO, and 8 million were sold in the 2nd round. No final round or “Underwriter’s Take-up” was required.

MB bottom-line: UBP’s stock price has been on a fairly consistent downward trend since February 2023, when it was worth approximately P74.50/share. It’s down 54% since then. There have been some ups and downs, but the lows and the highs just keep going lower. Over that same span, UBP’s retail banking competitors like BPI [BPI 120.20, down 0.5%; 117% avgVol] and BDO [BDO 130.50, up 0.2%; 170% avgVol] are up 10.5% and 6.9% respectively, in stark contrast to UBP’s massive drop in price. Will the higher incomes promised by the absorption of Citigroup’s PH-based retail banking business pay off for shareholders soon?



Merkado Barkada is a free daily newsletter on the PSE, investing and business in the Philippines. You can subscribe to the newsletter or follow on Twitter to receive the full daily updates.

Merkado Barkada's opinions are provided for informational purposes only, and should not be considered a recommendation to buy or sell any particular stock. These daily articles are not updated with new information, so each investor must do his or her own due diligence before trading, as the facts and figures in each particular article may have changed.

vuukle comment




  • Latest
Are you sure you want to log out?

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

Get Updated:

Signup for the News Round now

or sign in with