Security Bank lists shares sold to BTMU

DY family-led Security Bank listed on Tuesday new shares issued to Japanese banking giant Bank of Tokyo-Mitsubishi UFJ Ltd. (BTMU), which infused P36.9 billion in fresh capital to the bank through the purchase of a 20-percent stake.

Security Bank listed on the Philippine Stock Exchange (PSE) 150.707 million in new common shares issued to BTMU last April 1.

The listing brought Security Bank’s total listed stock to around 753.54 million common shares. Based on the bank’s trading price, this brings its market capitalization – or how much the investor market values the bank – at around P150 billion (equivalent to $ 3.2 billion).

The deal also beefed up Security Bank’s shareholders’ capital to P92.9 billion, the fifth largest among private domestic universal banks in the country.

“We thank the Bangko Sentral ng Pilipinas and the Philippine Stock Exchange for their vital support of the Security Bank-BTMU strategic partnership. The partnership gives Security Bank — as an equity affiliate of BTMU — additional capabilities to service key critical requirements of our economy. These capabilities are in the areas of infrastructure and project finance, retail finance, international banking and wealth management. BTMU’s parent, Mitsubishi UFJ Financial Group (MUFG), is one of the world’s largest and most diversified financial groups with core strengths in such areas,” said Security Bank chair Alberto Villarosa said.

Following this partnership, BTMU became the second largest shareholder of Security Bank while the Dy retained majority voting control.

The Security Bank-BTMU transaction was consummated in less than six months since the deal was signed on January 14, 2016. The transaction received regulatory approval last February 24, and was completed on April 1.

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