The Philippine Securities and Exchange Commission has rendered effective San Miguel Corporation’s registration statement for a follow-on offering of up to 400 million series 2 preferred shares, subject to compliance with remaining requirements. The shares will be offered at PHP 75 each in up to three subseries, comprising a base offer of 266,666,600 shares and an oversubscription option of up to 133,333,400 shares. If the oversubscription option is fully exercised, San Miguel expects net proceeds of up to PHP 29.77 billion, which it will use to repay loans and finance airport and infrastructure projects. The offer period is scheduled for July 15-23, with listing on the Philippine Stock Exchange’s Main Board planned for July 31.
2026-07-08Philippine Securities and Exchange Commission
Philippine Securities and Exchange Commission conditionally clears San Miguel Corporation’s PHP 30 billion follow-on offering
The Philippine Securities and Exchange Commission conditionally cleared San Miguel Corporation’s follow-on offering of up to 400 million preferred shares at PHP 75 each. The company expects net proceeds of up to PHP 29.77 billion for loan repayments and airport and infrastructure projects, with listing planned for July 31.