FPHC buying back shares
Lopez-led First Philippine Holdings Corp. is buying back about P4.35 billion worth of preferred shares as part of its debt management strategy.
Lopez-led First Philippine Holdings Corp. is buying back about P4.35 billion worth of preferred shares as part of its debt management strategy.
2GO Group Inc., the country’s largest shipping firm, is redeeming over 4.5 million preferred shares this December in line with plans to delist from the stock exchange.
Diversifying conglomerate San Miguel Corp. listed on the Philippine Stock Exchange Friday P80 billion worth of a new series of preferred shares, the biggest capital market foray in the country to date.
Diversifying conglomerate San Miguel Corp. listed on the Philippine Stock Exchange on Friday P80 billion worth of a new series preferred shares, the largest capital market foray in the country to date.
The Philippine Stock Exchange board approved on Wednesday the listing of P80 billion worth of new preferred shares issued by conglomerate San Miguel Corp., the single-largest capital-raising activity in the country so far.
San Miguel Corp. has completed a landmark P80-billion capital-raising activity after a month-long sale of preferred shares that targeted retail investors seeking higher yields in a low-interest rate environment.
Question: My broker recently asked me if I wanted to subscribe to the preferred shares of San Miguel. I was told that the preferred shares would pay me a guaranteed return of 8 percent a year. It is my first time to invest in preferred stocks and I am a little confused on the mechanics. Can you advise me?—Elisa Sagre by email
Conglomerate San Miguel Corp. is entering the final stretch of its retail offering of preferred shares worth as much as P80 billion this week, with growing interest for the issue, according to bankers familiar with the deal.
San Miguel Corp. has sought the Securities and Exchange Commission’s approval for its plan to offer preferred shares worth as much as P80 billion, which would be the largest fund-raising activity in the local capital market.
San Miguel Corp. plans to complete a landmark P80-billion offering of preferred stocks by September, from which some proceeds will be used to redeem non-voting preferred shares held by the government.
San Miguel Corp. will ask stockholders on Thursday to ratify a capital-building strategy that includes a plan to offer a new series of preferred shares worth as much as P80 billion by the third quarter of this year.
San Miguel Corp. is embarking on the biggest capital-raising event in the local stock market with a retail offering of preferred shares worth as much as P80 billion this August, harnessing the cash-awash financial system to replace costly preferred shares issued three years ago.
