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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.

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