San Miguel Brewery IPO

Shares of the beer unit of food and beverage conglomerate San Miguel Corporation will be listed on the Philippine Stock Exchange starting May 12.

Investors, however, can subscribe to the initial public offering (IPO) of San Miguel Brewery Inc. (SMB) from April 28.

More than 1.8 billion common shares will be sold to the public. Of this, 77 million to 154.8 million will be new shares, while 693.4 million to 1.4 billion will be shares currently owned by San Miguel Corp.

The offer price range is set at Php 8.00 - 15.40 per share. The offer price will be finalized on April 25.

At its lowest, the company expects to raise P7.1 billion from the IPO, proceeds of which will be used by the parent company to venture into new capital-intensive businesses such as energy and mining.

Discuss the SMB IPO and other IPO updates in the IPO Discussion, News and Updates thread in the PMT Forum.

Pepsi to IPO shares in January 2008

Pepsi-Cola Products Philippines Inc. (PCPPI), local bottler for global softdrinks giant Pepsi-Cola, will offer up to 1.31 billion shares in an initial public offering (IPO) set in January next year.

More than 70% of the total shares will be made available to foreign investors. Proceeds from the IPO will be used to finance expansion in the country.

The shares currently have an indicative price of P6.04. The final offer price will be determined through an international book-building process and will be known by January 19.

The international book-building exercise will run from January 8 to 18, and the domestic offer period will be from January 21 to 28.

The stock will be listed on the Philippine Stock Exchange (PSE) and will start secondary trading from February 1.