San Miguel holds secondary offering, lists 4.2b common shares

November 13, 2018

San Miguel Food and Beverage, Inc. and The Philippine Stock Exchange, Inc. celebrate FB’s secondary offering and listing of 4.2 billion common shares  through a ceremonial bell ringing held on Monday.

“Now that San Miguel Corporation’s flagship food and beverage businesses are all under one company, FB has become even more formidable with multiple, profitable units contributing to its growth. The additional shares in the company will also make it more liquid, making it attractive to fund managers,” PSE chairman Jose Pardo said in his welcome remarks during the event.

But the Philippine Stock Exchange index closed 42.62 points lower to 6,926.20. In the broader market, there were 127 decliners, 68 gainers and 44 shares unchanged.

The peso closed at P53.295 against the US dollar from P52.96 on Friday. Volume at the foreign exchange portal of the Bankers Association of the Philippines reached $666.1 million from Friday's $897.5 million.

Volume amounted to 3.53 million shares worth P6.64 billion from Friday's 1.17 million shares valued at P5.96 billion.

Most active shares were led by Ayala Land, up 1.58 percent to P38.60; ISM Communications, up 1029 percent to P7.50 and San Miguel Food and Beverage, up 0.06 percent to P85. DMS