San Miguel Brewery pulls off price-sensitive IPO
Parent company San Miguel Corporation decides to spin off only 5% of its domestic beer subsidiary, while price sensitivity makes it "highly likely" that the price will be fixed at the bottom of the range.
San Miguel Brewery has attracted enough international demand to complete its initial public offering and will go ahead with the domestic portion of the deal on Monday. The final price wonÆt be announced until later today, but according to sources, it is highly likely to end up at the bottom of the Ps8 to Ps11 range. Based on the level of price sensitivity in the deal, it cannot really price anywhere else, they say.
Meanwhile, parent company San Miguel Corporation...
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