San Miguel says to redeem 223.2m series 2-F preferred shares

San Miguel says to redeem 223.2m series 2-F preferred shares

San Miguel Corporation (SMC) has announced its intention to redeem 223.2 million Series 2-F preferred shares, marking a significant move in the company's financial strategy. The redemption is scheduled for September 21, 2025, with the primary aim of refinancing debt and funding infrastructure projects.

The announcement comes as SMC seeks to raise nearly P30 billion through a preferred share sale, which is set to be the largest of the year. The offer, which includes an oversubscription option, will cover 266.7 million Series 2 preferred shares at P75 each. The offer period is slated to run from October 13 to October 17, 2025, with a subsequent listing on the Philippine Stock Exchange.

According to the company, the redemption of the Series 2-F preferred shares is part of a broader plan to refinance existing debt and invest in key infrastructure projects. The proceeds from the redemption will also be used to fund the redemption of Series 2-J and 2-K shares, as well as investments in the Bulacan airport and tollways.

The move by SMC is significant, as it underscores the company's commitment to financial stability and strategic growth. The conglomerate, which operates in diverse sectors including food, beverages, power, fuels, and infrastructure, continues to expand its operations through strategic investments and debt refinancing.

For further details, interested parties can refer to the official SMC announcement and the supporting documentation provided by the company.

References:
[1] https://insiderph.com/ramon-ang-backed-smc-sets-p30-b-preferred-share-sale-in-october-2025
[2] https://www.globenewswire.com/news-release/2025/08/29/3141411/0/en/Fairfax-Announces-Intention-to-Redeem-Cumulative-Preferred-Shares-Series-G-H.html