San Miguel Pure Foods boosts free-float to avoid delisting

The parent raises $131 million and could lift the free-float of the Philippine food company to 15% from less than 1% to meet the stock exchange’s public ownership requirement.
<div style="text-align: left;"> The San Miguel group is best known for its beer brands </div>
<div style="text-align: left;"> The San Miguel group is best known for its beer brands </div>
November 21, 2012

Philippine conglomerate San Miguel Corp has raised Ps5.4 billion ($131 million) from a fully marketed sale of shares in its subsidiary, San Miguel Pure Foods, after pricing at the bottom of the indicative range. The deal closed on Monday after a week of bookbuilding.

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