<article>Philippine-listed food manufacturer <a style="color: #000080;" href="http://www.sanmiguelpurefoods.com">San Miguel Pure Foods Company Inc</a> disclosed on Thursday that it has raised P15 billion ($338 million) from a latest shares offer.</article>

Philippine-listed food manufacturer <a style="color: #000080;" href="http://www.sanmiguelpurefoods.com">San Miguel Pure Foods Company Inc</a> disclosed on Thursday that it has raised P15 billion ($338 million) from a latest shares offer.
The company informed the stock exchange that it raised the amount from the issuance of 15 million Series 2 preferred shares, which had a base issue share size of 10 million and oversubscription of five million.
Pure Foods said proceeds of the offer will be used to refinance the company&#8217;s preferred shares issued in 2011 and redeemed last March 3, 2015.
&#8220;The strong support our company received from the investing community reflects their confidence on our strategy and growth prospects,&#8221; said Pure Foods president Francisco Alejo III.
&#8220;For 2015, we expect to perform even better, with the robust economy and consumers&#8217; growing purchasing power,&#8221; Alejo added.
Pure Foods cited in its disclosure that the attractiveness of the company&#8217;s credit profile and favorable market conditions made the market demand for its shares issue strong and the offer was four times oversubscribed.
The joint issue managers, lead underwriters, and bookrunners that acted in the transaction were BPI Capital Corp, China Banking Corp, RCBC Capital Corp, SB Capital Investment Corp, and Standard Chartered Bank.
The food arm of diversified conglomerate <a style="color: #000080;" href="http://www.sanmiguel.com.ph">San Miguel Corp</a>, Pure Foods is food manufacturer based in the Philippines and produces a wide variety of products such as animal feeds, poultry and fresh meats, processed and canned meats, flour, spreads, butter, margarine, coffee and ice cream. Among its famous brands are Magnolia, Purefoods, Monterey, Star, and Dari Creme.
Pure Foods&#8217; last traded price was at P205, down by 0.39 per cent or P0.80 to Wednesday&#8217;s P205.80.
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Philippine-listed food manufacturer San Miguel Pure Foods Company Inc disclosed on Thursday that it has raised P15 billion ($338 million) from a latest shares offer.

PH's Pure Foods raises $338m from shares offer

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PH's Pure Foods raises $338m from shares offer

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