BankCom realigns use of part of IPO proceeds

By Eireene Jairee Gomez

Oct 27, 2022 12:17 am

THE board of directors of Bank of Commerce (BankCom) approved the reallocation of the remaining P940 million from its initial public offering (IPO) for loans and securities purchases.

In a disclosure to the Philippine Stock Exchange on Wednesday, BankCom said its management revisited the planned use of the remaining proceeds for information technology (IT) capital expenditure (capex) requirements as initially planned.

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