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FINWIRES

San Miguel Eyes Up to PHP30 Billion Via Share Issue

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San Miguel (PSE:SMC) filed plans to raise up to 30 billion Philippine pesos through the re-issuance of Series 2 preferred shares, according to a Monday Philippines Exchange filing.

The offering covers 266.7 million shares, with an additional 133.3 million shares under an oversubscription option, to be issued in three subseries.

The conglomerate has also submitted an application for listing of the offer shares on the Philippine Stock Exchange, alongside the registration with the Securities and Exchange Commission.

What else is happening in Asia?

Asia

Tianyu Semiconductor Wins China Nod for H-Share Full Circulation

Guangdong Tianyu Semiconductor (HKG:2658) received acceptance from the China Securities Regulatory Commission for its proposed H-share full circulation plan, according to a Friday Hong Kong bourse filing.The application covers the conversion of 334.3 million unlisted shares held by participating shareholders into Hong Kong-listed shares.Shares of the firm were down over 2% in Monday morning trade.

HKG:2658
Asia

Market Chatter: Big Caring Targets About MYR3 Billion Via Malaysia IPO

Big Caring Group is preparing for a stock market debut that could raise as much as 3 billion ringgit ($750 million), positioning the pharmacy retailer among Malaysia's largest IPOs in recent years, Bloomberg News reported Friday, citing people with knowledge of the matter.The pharmacy chain, backed by private equity firm Creador, is aiming to list by October. It plans to offer up to 25.5% of its enlarged share capital, with part of the proceeds to be used to repay debt. The size and timing of the IPO could still change.Big Caring runs 626 outlets across Malaysia under brands including Big Pharmacy and Caring Pharmacy. Creador, which holds roughly 34% of the company, plans to sell up to 14.8% of its stake in the offering. The company did not respond to Bloomberg's request for a comment, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

FTSE Bursa Malaysia KLCI
Asia

AMTD Idea Arm Acquires Majority Stake in Malaysian Upper View Regalia Hotel

AMTD Idea (SGX:HKB) said The Generation Essentials Group has acquired super majority interests in the Upper View Regalia Hotel in Kuala Lumpur, Malaysia, for $38 million, according to a Friday filing with the Singapore Exchange.The property comprises 129 guest rooms and serves the hospitality and lifestyle needs of global citizens and local communities.Following the acquisition, the conglomerate's hospitality portfolio is nearing 1,000 rooms.The Generation Essentials Group is a subsidiary of New York-listed AMTD Digital.

SGX:HKB