San Miguel Pure Foods to raise $3 billion via share sale

The food and beverage unit of conglomerate San Miguel Corp. plans to raise around $3 billion through a share sale early next year.

San Miguel Pure Foods Co. Inc., which will be renamed San Miguel Food and Beverage Inc., plans a follow-on offering in February next year, San Miguel President Ramon Ang told Reuters in a text message.

The diversified conglomerate on Monday moved to transfer to Pure Foods its core brewery and alcohol assets valued at P336 billion ($6.6 billion). — Reuters