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SMG Power To Raise $500M In IPO

San Miguel Global Power is seeking to raise about $500 million through an initial public offering.

San Miguel Global Power is seeking to raise about $500 million through an initial public offering, Reuters reports. The capital will be raised from foreign and local investors, adds Inquirer.net.

Goldman Sachs, UBS, Standard Chartered Bank as well as local investment banks ATR Kim Eng and SB Capital, a unit of Security Bank, will manage the offering. The $6.8 billion food-to-power group requires funds to grow its investments in infrastructure and energy projects.

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Click here for additional coverage from Inquirer.net.

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