Philippines: San Miguel to list local beer unit on April 22, 2008

Southeast Asian food giant San Miguel said it would list its domestic beer unit on April 22 in what could be a record initial public offering for the Philippines, Reuters reported March 12.

Earlier, the Manila-based parent group said it had cut the price range for the listing of San Miguel Brewery to 8.0-15.40 pesos a share from an earlier range of 9.50-16.30 pesos share, cutting maximum proceeds to around $576 million from around $610 million.

12 March, 2008