San Miguel Brewery (SMB) has had its shares suspended from the Philippine Stock Exchange (PSE) after failing to comply with rules over public ownership.
//i2.aroq.com/1/sanmig2.jpgThe company, a subsidiary of San Miguel Corp, is among seven firms that had a six-month suspension imposed yesterday (2 January) for not having a minimum public float of 10%. SMB was given until the end of last month to comply with the PSE rules and was denied a request for an extension.
San Miguel Properties has also been delisted.
The companies now have until 30 June to meet the public ownership requirement, otherwise their shares will be delisted, the PSE said.
SMB said yesterday that it is considering voluntarily delisting its shares.
In November, the brewery reported that nine-month net profits were up by 5% to PHP15.4bn (US$374m).
Sectors: Beer & cider
Companies: San Miguel Corporation
