SAN Miguel Corporation (SMC) management executives rang the Philippine Stock Exchange (PSE) trading bell on Friday, October 24, 2025 to mark the official listing of its maiden exchange offering preferred shares-SMC2P, SMC2Q, SMC2R-and preferred securities SMC2S, SMC2T, and SMC2U from its follow-on offering (FOO).
PSE President and CEO Ramon S. Monzon lauded SMC for its optimism when many companies were holding back on raising capital through the equities market. ‘SMC proceeded with their FOO, raising P30 billion for its Series 2-S, 2-T and 2-U prefs, one of the biggest amount of capital raised via an FOO in PSE’s history. Not surprisingly, this FOO, like all previous SMC issuances, was oversubscribed, this time by 1.5 times, again reflecting the investors’ trust and confidence in the company’s superior track record and in the transformative leadership and strategic mindset of SMC’s Chairman and CEO, Mr. Ramon S. Ang, and his very capable management team.’
The funds raised from this FOO will refinance SMC’s short-term loans used to redeem Series 2-F preferred shares and to pay for partial redemption of Series 2-J and 2-K preferred shares; while a portion of the proceeds will be invested in infrastructure projects such as the New Manila International Airport in Bulacan and tollways projects.
Monzon also noted SMC’s strong performance and staunch commitment to excellence and sustainable development that recently earned the company a number of recognitions globally.
‘These accolades not only embody SMC’s corporate leadership, innovation and dedication to nation-building, but position SMC among the world’s frontrunners in ESG,’ Monzon added.