Philippines' San Miguel halves food unit IPO size, seeks $920m

Philippines' San Miguel halves food unit IPO size, seeks $920m

FILE PHOTO - A logo of San Miguel Corporation (SMC) is seen at a main office in Ortigas city, metro Manila February 12, 2016. REUTERS/Romeo Ranoco

Philippine conglomerate San Miguel Corp said it is looking to raise about $920 million through a sale of shares in its food unit, slashing the size of the offering by almost half due to weakness in the stock market.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter