San Miguel Corp. (SMC) completed its P30-billion preferred share follow-on offering, the largest such offering in seven years, with the listing of its Series 2V, 2W, and 2X preferred shares on the Philippine Stock Exchange (PSE) on Monday, according to BusinessWorld.
The newly listed preferred shares trade under ticker symbols SMC2V, SMC2W, and SMC2X, with dividend rates as specified in the offering. The capital raise is part of SMC's broader financing activities.
The listing caps one of the biggest equity deals in the Philippine market in recent years, underscoring strong investor demand for high-yielding preferred shares amid stable corporate earnings.