PHILIPPINES: San Miguel Brewery confirms plan to delist from PSE
The SMC subsidiary plans to delist from the PSE
San Miguel Brewery has submitted a request to delist from the Phillipine Stock Exchange.
In a filing to the PSE today (21 February), the brewer said it has lodged a petition to delist its shares on 15 May. The San Miguel Corporation subsidiary last month had its shares suspended from the PSE for failing to meet the Philippines' minimum public ownership requirement of 10%.
San Miguel Brewery, which is 48%-owned by Japan's Kirin Holdings, also said today that it intends to buy back 0.61% of its outstanding public stock from minority shareholders at PHP20 (US$0.49) per share. The month-long tender offer will launch on 4 March.
- Can Bacardi take its rum back to the party?
- What Trans-Pacific Partnership means for drinks
- AB InBev, SABMiller - Here's what'll happen next
- ABInBev on the verge of SABMiller buy? - Comment
- Japan and the global soft drinks race
- Anheuser-Busch InBev wins SABMiller's hand
- A-B InBev raises SABMiller offer to GBP70.5bn
- Carlsberg UK chief James Lousada quits
- Brito gives call to arms to SABMiller shareholders
- Beam Suntory CMO to stand down
- The IWSR Duty Free/Travel Retail Summary Report 2015
- Future growth opportunities for global spirits
- Global gin insights - market data, product innovation and consumer trends research
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends research
- Anheuser-Busch InBev SA/NV - Strategy and SWOT Report