The merger, based on Podium’s net asset value of about P7 billion at the end of 2023 and BDO’s share price of P130.50, also received approvals from the Bangko Sentral ng Pilipinas and a non-coverage confirmation from the Philippine Competition Commission.
As a result, Podium’s assets, rights, and liabilities will be transferred to BDO, which will issue common shares to Podium’s shareholders.
This integration marks a strategic move for BDO, enhancing its asset base and strengthening its real estate portfolio, following the buyout of Keppel Group’s interests in Podium, located in Ortigas Center, Mandaluyong City, in December 2023.
