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San Miguel Corp. said it raised P13 billion through the reissuance of 173.33 million of its Series 2-M preferred shares, sold to investors at P75 apiece through a private placement.
The proceeds of the peso-denominated shares – cumulative, non-voting, non-participatory, non-convertible, redeemable – carrying a par value of P5 – will be used for general corporate purposes, the company said.
The reissued shares will be listed on the Philippine Stock Exchange by August 29.
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