The Philippines' largest company, San Miguel Corporation will sell bond to small investors. The company is aiming to cut dollar-denominated debt and protect its earnings.
Philippine Long Distance Telephone Co. will allocate another record level 43 billion pesos ($915 million) in capital spending this year to defeat domestic competition and prepare for the possible entry of Telstra Corp. to the Philippines.
Philippine-based JG Summit Holdings Inc raised PHP8.8 billion through an overnight equity placement to fund a stake acquisition in Manila Electric Company (Meralco) and other corporate purposes.
San Miguel Corp. President Ramon Ang said on Tuesday that it had been in talks with JG Summit Holdings Inc to sell a part of a stake it owns in Manila Electric Co.
San Miguel Corp plans to raise US$4 billion to fund expansion by selling power assets of Meralco.
Billionaire Lucio Tan is considering to exit the aviation industry by means of share sale after two decades in the business.