San Miguel Moves Ahead with IPO

The Philippine brewery has received enough international interest to continue with plans to go public. Beer sales in the country grew 5% last year

San Miguel Brewery has attracted enough international demand to complete its initial public offering and will go ahead with the domestic portion of the deal on Monday. The final price won't be announced until later today, but according to sources, it is highly likely to end up at the bottom of the Ps8 to Ps11 range. Based on the level of price sensitivity in the deal, it cannot really price anywhere else, they say.

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