BRIEF-San Miguel Corp Confirms SEC Approved IPO Of Common Shares By Bank Of Commerce

Feb 17 (Reuters) – San Miguel Corp SMC.PS:

• CONFIRM SEC APPROVED INITIAL PUBLIC OFFERING OF COMMON SHARES BY BANK OF COMMERCE

• CONFIRMS SEC APPROVED REGISTRATION STATEMENTS OF ISSUANCE BY CO OF UP TO 60 BILLION FIXED-RATE BONDS UNDER SHELF-REGISTRATION

• IPO FOR OFFERING UP TO 280.6 MILLION COMMON SHARES OF BOC AT UP TO 12.50 PESOS PER SHARE

• PROCEEDS OF BONDS ISSUANCE WILL BE USED FOR REFINANCING OF SHORT-TERM LOAN FACILITIES OF SMC, AMONG OTHERS

• PROCEEDS OFFERING TO FUND THE BANK’S LENDING ACTIVITIES WITH UPGRADING ITS AUTOMATED TELLER MACHINE FLEET & CORE BANKING SYSTEM

Source text for Eikon: ID:nPSXbYpBKB

Further company coverage: SMC.PS

((Reuters.Briefs@thomsonreuters.com;))