SMC RAISES P20B FROM PREFERRED SHARES OFFERING

San Miguel Corporation (SMC) has raised Php20 billion from its recently concluded follow-on offering of Preferred Shares Series 2-J.

The shares were listed at The Philippine Stock Exchange, Inc. (PSE) today. The conglomerate will use the proceeds from the offering to fund its infrastructure projects namely the Bulacan Airport and MRT-7.

“The overwhelming response of investors to SMC’s Preferreds is a testament to the enduring confidence of investors in both the company, San Miguel Corporation and its President, Ramon S. Ang,” said PSE President Ramon Monzon. 

In the same speech, Monzon also commended the aforementioned for their generous and extensive contribution to COVID-19 relief and recovery efforts. He also congratulated the company on its 130th anniversary.

Key PSE and SMC executives viewed the bell ringing event online. Among the virtual guests in attendance were the PSE Board of Directors led by Chairman Jose T. Pardo, SMC President and Chief Operating Officer Ramon S. Ang, SMC Chief Finance Officer Ferdinand K. Constantino and SMC Senior Vice President and Head of Treasury Sergio G. Edeza.