The Philippine Stock Exchange said Thursday it approved two more fund-raising activities, including the P20-billion preferred shares offering of San Miguel Corp. and the P1.25-billion follow-on offering of PH Resorts Group Holdings Inc. which are expected to perk up the market.
San Miguel, according to the memorandum circular posted on the PSE website, will offer up to 133.33 million in preferred shares with an over-allotment option for another to 133.33 million shares at P75 apiece.
The conglomerate assigned BDO Capital & Investment Corp., BPI Capital Corp., China Bank Capital Corp., Philippine Commercial Capital Inc., PNB Capital and Investment Corp., RCBC Capital Corp. and SB Capital Investment Corp. as the joint issue managers, joint lead underwriters and bookrunners for the offering.
The PSE also approved the P1.25-billion share sale PH Resorts, the leisure and gaming unit of businessman Dennis Uy.
PH Resorts will offer up to 450 million common shares at P2.50 apiece. Uy said the company was pushing through with the fund-raising activity as the construction of the integrated resort and casino in Cebu called Emerald Bay remained on track.
