San Miguel Corporation lists maiden exchange offering and follow-on offering Series 2 preferred shares
From left: SMC Special Projects, Corporate Finance - Treasury Ma. Carmela L. Ang, SMC AVP-Associate General Counsel and Assistant Corporate Secretary Mary Rose S. Tan, SMC Vice President for International Treasury & Funds Management Almira C. Dalusung, SMC Treasurer Joseph N. Pineda, PSE President and CEO Ramon S. Monzon, PSE COO Atty. Roel A. Refran, PSE Issuer Regulation Division Head Atty. Marigel M. Baniqued-Garcia, PSE General Counsel Atty. Veronica V. Del Rosario and PSE Capital Markets Development Division Head Mark Frederick V. Visda.
San Miguel Corporation (SMC) management executives rang the Philippine Stock Exchance (PSE) trading bell on October 24, 2025 to mark the official listing of its maiden exchange offering preferred shares - SMC2P, SMC2Q, SMC2R - and preferred securites SMC2S, SMC2T, and SMC2U from its follow-on offering (FOO).
PSE President and CEO Ramon S. Monzon lauded SMC for its optimism when many companies were holding back on raising capital through the equities market. " SMC proceeded with their FOO, raising Php 30 billion for its Series 2-S, 2-T and 2-U prefs, one of the biggest amount of capital raised via an FOO in PSE's history. Not surprisingly, this FOO, like all previous SMC issuances, was oversubscribed, this time by 1.5 times, again reflectung the investors' trust and confidence in the company's superior track record and in the transformative leadership and strategic mindset of SMC's Chairman and CEO, Mr. Ramon S. Ang, and his very capable management team."
The funds raised from this FOO will refinance SMC'S short-term loans used to redeem Series 2-F preferred shares and to pay for partial redemption of Series 2-J and 2-K preferred shares; while a portion of the proceeds will be invested in infrastructure projects such as the New Manila International Airport in Bulacan and tollways projects.
Mr. Monzon also noted SMC's strong performance and staunch commitment to excellence and sustainable development that recently earned the company a number of recognitions globally.
"These accolades not only embody SMC's corporate leadership, innovation and dedication to nation-building, but position SMC among the world's frontrunners in ESG,"