Manila, Feb. 15 -- The Confederation of Coconut Farmers Organization (CCFOP-CONFED) on Saturday made public its bid for the United Coconut Planters Bank Savings Bank, Inc. (UCPB Savings).

The Land Bank of the Philippines (LBP) is selling its ownership share equivalent to 97.55 percent of the total outstanding capital stock of UCPB Savings as part of its strategic reforms to focus on priority sectors.

The state-run lender has set the asking price at PHP341.14 per share for its 6,996,467 common shares in the bank.

CCFOP-CONFED chair Charles Avila stated that their bid is backed by local and foreign entities committed to supporting coconut farmers and restoring the Philippines' position as a leading global coconut exporter.

But the group...