San Miguel Kicks off IPO Roadshow

San Miguel Brewery could raise as much as $150 million, but most of it will go to its parent, which is spinning off the Philippine brewer

San Miguel Brewery yesterday kicked off the international roadshow for its initial public offering, which may raise between $148 million and $410 million. The listing-candidate is a spin-off from San Miguel Corporation, the largest food, beverage and packaging company in the Philippines, and comprises the group's domestic beer operations although the actual brands will continue to be owned by the parent.

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