San Miguel Corp. (SMC), the conglomerate led by billionaire Ramon Ang, racked up P48.86 billion following its successful preferred share exchange offer and public offer.
In a statement Friday, SMC said the shares have been listed at the Philippine Stock Exchange.
An P18.86-billion exchange offer covered investors holding Series 2-J and 2-K shares, giving them the option to swap them for newer ones 2-P, 2-Q, and 2-R.
Through this, a total of 251.47 million shares were swapped, comprising 173.76 million Series 2-J and 77.71 million Series 2-K. The remaining older shares will be redeemed in October and December.
Alongside this, the conglomerate giant also secured P30 billion from its preferred share offer, with each share priced at P75.