San Miguel issued shares to finance new investment projects
San Miguel continues on its path of expansion and growth, that is why it will make an issue of new shares to finance its investment projects.
February 23, 2017
San Miguel continues on its path of expansion and growth, that is why it will make an issue of new shares to finance its investment projects. The public offering, which subscription phase began the on February 21 and closes on March 7, is up to 58,500,000 shares expandable to 67,275,000. This would represent up to 9.46% of the share capital. The indicative price range of the offer is between AR $ 95 and AR $ 135 for every 10 new shares, which means an indicative size of 43.4 and 50 million dollars.
Regarding the destination of the funds, the prospect points out three specific options: increase in volumes of fruit production; development of industrial projects; and acquisition of companies or operations that fit within the strategic vision of "Being the leading company of fresh citrus in the Southern Hemisphere and processed fruit and vegetable products with value added”.
With a large attendance and the participation of shareholders and executives of San Miguel, the presentation event was held at Buenos Aires Stock Exchange. Here is a brief summary of the event.
For financial information of the company and details about the offering, acces to the following link: http://www.sanmiguelglobal.com/inversores/en/