SMC secures SEC nod to sell Series 2 preferred shares - BusinessWorld Online

SMC secures SEC nod to sell Series 2 preferred shares - BusinessWorld Online

SAN MIGUEL CORP. (SMC) said it has received approval from the Securities and Exchange Commission (SEC) to sell up to 400 million Series 2 preferred shares priced at P75 apiece, with potential gross proceeds of about P30 billion if the oversubscription option is fully exercised. In a regulatory filing on Monday, the diversified conglomerate said the SEC permit, dated Oct. 10, covers a base offer of 266.7 million shares and an oversubscription opt…