San Miguel pursues record Php250Bil share sale, eyes two operating toll roads.
On track with planned share offering. San Miguel Corp. is set to pursue its secondary offering
this quarter which is seen to be the country’s biggest share sale with proceeds of as much
as Php250Bil. According to SMC President and COO Ramon Ang, share price may range from
Php150-250 while a total of 1 Bil shares may be sold, depending on market conditions. In
addition, he said that the company already tapped Credit Suisse Group and Standard Chartered
Bank as joint lead underwriters for the proposed share sale.
Eyeing STAR and Skyway. SMC is looking at acquiring the Southern Tagalog Arterial Road (STAR)
and the Metro Manila Skyway to boost its infrastructure business. It said that both toll roads were
offered to the company and agreements could be finalized within the next two weeks. Earlier,
Metro Pacific Tollways Corp. has also expressed interest on the Skyway Project.
