 In 2008, ATR KimEng acted as Joint Global Issue Manager, Joint Global Bookrunner, Joint Global Lead Manager, Joint Domestic Lead Underwriter, and Joint Stabilization Agent, in the Initial Public Offering of the largest beer producer in the Philippines.
Name of Client:
San Miguel Brewery, Inc.
Description:
The largest producer of beer in the Philippines
Type of engagement:
Initial Public Offering of San Miguel Brewery, Inc. common shares
Nature of Involvement:
Joint Global Issue Manager, Joint Global Bookrunner, Joint Global Lead Manager, Joint Domestic Lead Underwriter, Joint Stabilization Agent
Transaction Amount:
USD 169 million / PHP 7.09 billion
Offer Performance:
On listing day, the share price increased by 6.25%
Its 11 November 2008 closing price of Php 9.70 was an increase of 21% above the IPO price
Significance:
Marks the public offering and listing of an iconic Philippine brand
For calendar year 2008, the SMB offering was only the second IPO in the Philippines, and one of the few in the Asian region, to proceed in spite of difficult market conditions resulting from the US sub-prime crisis.
With this transaction, ATR KimEng Capital Partners became the first Philippine investment bank to lead and underwrite a global equity offering.
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