Saturday, July 9, 2011

San Miguel invites 5 banks for power unit IPO

Reuters/ABS-CBN News

MANILA, Philippines - San Miguel Corp. said on Friday it has invited three foreign and two local investment banks to assist in the public offer of its power arm within this year.

San Miguel has invited Goldman Sachs Group Inc., UBS AG, and Standard Chartered Bank, and local investment banks ATR Kim Eng and SB Capital Corp., a unit of Security Bank, to manage the planned initial public offering within this year, it said in a statement to the stock exchange.

San Miguel also clarified its unit SMC Global Power Holdings Corp. would be offering its shares to the public, not San Miguel Energy Corp., as it disclosed on Thursday.

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