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Philippines’ San Miguel plans up to PHP 40 billion series 2 preferreds
By Marisa Wong
Los Angeles, Aug. 7 – San Miguel Corp. said its board of directors approved the proposed issuance of up to PHP 40 billion of series 2 preferreds, or 533,333,334 preferred shares at PHP 75 per share, to be issued for a period of three years.
The company is planning an initial offering of up to PHP 20 billion, or 266,666,667, series 2 preferreds.
The board of directors authorized the shelf registration of the preferreds at a meeting on Thursday.
The conglomerate is based in Mandaluyong City, Philippines.
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