San Miguel F&B braves storm for $619m re-IPO

Despite the headwinds affecting the Philippine stock market, San Miguel has decided to move forward with plans to sell shares in its consolidated food and beverage business through a sharply downsized block trade.

Philippine conglomerate San Miguel Corporation on Friday started to sell shares worth as much as Ps33.1 billion ($619 million) in its food and beverage operations. This is the final step of a massive business restructuring that has lasted for more than a year.

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