4 weeks San Miguel’s P20-B share sale okayed Manilatimes |Biz
The Securities and Exchange Commission (SEC) has greenlighted San Miguel Corp.’s plan to sell P20 billion worth of preferred shares under shelf registration to help fund its airport and railway projects. In a statement on Wednesday, the SEC said the commission en banc approved on September 29 the Ang-led conglomerate’s registration of up to 533,333,334 Series 2 preferred shares, which would be offered within three years, subject to certain requirements. San Miguel will initially offer 133,333,400 of these shares with an oversubscription option of 133,333,267 shares at a maximum price of P75 each. The initial tranche will be listed ... more