SEC OKs San Miguel’s P30-B preferred share offering

The Securities and Exchange Commission (SEC) has approved the registration of San Miguel Corp.’s (SMC) follow-on offering of preferred shares worth up to P30 billion, as reported by BusinessWorld.

In a July 7 meeting, the SEC Commission En Banc declared effective SMC’s registration statement covering 400 million Series 2 preferred shares, subject to the company’s compliance with remaining regulatory requirements.

The offering is part of SMC’s ongoing capital-raising efforts to fund its expansion and debt refinancing initiatives, reflecting the conglomerate’s active presence in the Philippine capital markets.