San Miguel Corp, the Philippine food and beverage conglomerate, said it bought back a total of 78.43 million of its B shares for a total cost of Pso 4.79 billion as part of its stock repurchase progr…
San Miguel Corp, the Philippine food and beverage conglomerate, said it bought back a total of 78.43 million of its B shares for a total cost of Pso 4.79 billion as part of its stock repurchase program. The B shares are open to foreign and Filipino investors, while the A shares are available only to Filipino investors. The company said the buy-back plan is in response to the stock exchange“s call for large companies “to inject liquidity into the market place for the benefit of the investing public.”