March 31, 2022Bank of Commerce (BankCom), an affiliate of San Miguel Corporation (SMC), made its stock market debut at the Philippine Stock Exchange (PSE) on Thursday, March 31, under the ticker “BNCOM”, following a successful initial public offering (IPO) consisting of 280.60 million common shares at Php12.00 per share. BankCom has raised P3.36 billion in its IPO from March 16 to 22, 2022. “BankCom’s strategic vision in going public is to play a major role in the future of San Miguel and our country. We expect the bank to continue to grow in the coming years, achieve economies of scale, improve efficiency, and serve more Filipinos, from retail customers, small-to-medium enterprises, to major corporate clients, as Philippine economic growth gets back on track,” SMC President and CEO Ramon S. Ang said. “The commitment from our shareholders during this IPO reflects the high level of trust that investors and clients have on significant growth opportunities for BankCom in the years to come,“ BankCom President and CEO Michelangelo R. Aguilar added. Proceeds from the Bank’s IPO will fund the Bank’s lending activities and finance capital expenditure requirements in connection with the upgrading of its ATM fleet and its core banking system. BDO Capital & Investment Corporation, China Bank Capital Corporation, Philippine Commercial Capital, Inc., and PNB Capital and Investment Corporation have been engaged as Joint Issue Managers, Joint Lead Underwriters, and Joint Bookrunners for the IPO.