PureFoods to sell P15B preferred shows

Listed processed meat manufacturer San Miguel Pure Foods Company Inc. expects to raise as much as P15 billion from a preferred share sale to redeem its outstanding callable preferred shares.

In a disclosure, the company said it will offer up to 15 million of its Series 2 preferred shares, priced at P1,000 each. The share sale consists of 10 million base offer shares and 5 million shares in case of oversubscription.