SMC raises P20B from follow-on offering

San Miguel Corporation (SMC) 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, Mr. Ramon S. Ang,” said PSE President and CEO Ramon S. Monzon in his welcome remarks during the listing event.

In his speech, Mr. Monzon also commended SMC and its President, Mr. Ramon S. Ang, 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.

Photo shows from left, by row: SMC Senior Vice President and Deputy Chief Finance Officer Joseph N. Pineda, SMC Director and Senior Assistant to the President & COO Aurora T. Calderon, PSE President and CEO Ramon S. Monzon and PSE COO Roel A. Refran; PSE Market Operations Division Head Rachelle C. Blanch; Securities Clearing Corporation of the Philippines COO Renee D. Rubio, PSE General Counsel Veronica V. Del Rosario and PSE Issuer Regulation Division OIC Marigel B. Garcia.