SMC Crowned 'Stock Market Champion' for Capital Raising Prowess

MANILA, Philippines — San Miguel Corp. (SMC) has earned the title of ‘stock market champion’ from Philippine Stock Exchange Inc. (PSE) president and CEO Ramon Monzon, recognizing the diversified conglomerate’s exceptional capital-raising capabilities. Since 2020, SMC has successfully raised the most capital from follow-on offerings (FOOs) in the Philippine market, accumulating a total of P146.65 billion. During the official listing of SMC’s Series 2V, 2W, and 2X preferred shares on the PSE yesterday, Monzon highlighted that including these new shares, SMC has secured P146.65 billion from the issuance of 11 preferred share subseries across five FOOs. He further noted the market’s consistent and overwhelming demand for SMC’s preferred shares, with the latest offering being oversubscribed by 3.27 times its base offer. SMC successfully raised P30 billion from its oversubscribed preferred share sale. The offering comprised 400 million Series 2 preferred shares, including a base size of 266.67 million shares and an oversubscription option of up to 133.33 million shares. The preferred shares were offered at P75 each, with initial dividend rates of 8.0401 percent for Series 2V, 8.3570 percent for Series 2W, and 8.6483 percent for Series 2X. The proceeds from the offering are earmarked for the full refinancing of existing short-term loans incurred to redeem Series 2-I preferred shares in March 2026, and for the repayment of Series C and Series J bonds maturing in March 2027. A portion will also be allocated to further investments in the group’s infrastructure ventures, including the Manila International Airport and other airport-related projects in Bulacan. Monzon acknowledged SMC’s significant contribution to the Philippine economy, stating that the company is “truly living out its core purpose of leading nation-building.” According to SMC’s latest sustainability report, the company distributed P1.43 trillion of its total P1.5 trillion revenues last year back to its stakeholders, including suppliers, employees, investors, communities, and the government. Furthermore, SMC’s financial momentum remains robust, with consolidated revenues growing by 19 percent to P428 billion in the first quarter, accompanied by a net income of P22.5 billion. Monzon expressed full confidence that SMC’s continuous growth and strategic expansion, a testament to the visionary leadership of its chairman and CEO Ramon Ang, will be sustained under the capable management team now led by its president and COO John Paul Ang.