Globe Telecom Incorporated (Globe) has announced plans to issue a stock rights offer to finance expansion plans of its mobile and broadband network in the Philippines. The company expects to raise about PHP32 billion through this exercise. The increase in the company’s authorised capital stock will be used to issue the common shares for the offering.

The proposed stock rights offer will also enable the company to further expand its digital ecosystem.

The increase in capital stock and the rights offer are both subject to the required regulatory approvals.