San Miguel Corp. on Friday listed on the Philippine Stock Exchange preferred shares that the diversified investment holding company sold in a follow-on offer to raise around P34 billion.
Proceeds from the three series preferred shares, which form part of an earlier shelf registration, will be used by San Miguel primarily to pay debts.
San Miguel sold a total 453.3 million non-voting, non-convertible, redeemable and cumulative preferred shares, each with a par value of P5.
San Miguel has interests in infrastructure development, power generation, oil refining and retail, food and beverage, packaging and toll roals.
