The Philippines Department of Finance has invited five investment banks – Goldman Sachs, Lehman Brothers, CS First Boston, ING Barings, Hong Kong Bank and Salomon Smith Barney – to present plans for t…
The Philippines Department of Finance has invited five investment banks – Goldman Sachs, Lehman Brothers, CS First Boston, ING Barings, Hong Kong Bank and Salomon Smith Barney – to present plans for the issuance of new San Miguel Corporation (SMC) shares to interested investors. The Department of Finance is expected to choose two banks to underwrite the deal. Under the plan, SMC would issue additional shares and the government would waive its option to buy the stake in favour of the strategic investor.