San Miguel Corporation or SMC share price goes down by 28 percent as trading resumes May 5 yesterday. From the last price of P153 per SMC share last April 12 and they went on voluntary trading suspension in relation to the IPO offering they had for their $900-million share and bond sale which is said to be the largest equity deal in our country and the biggest concurrent offering in Southeast Asia in more than ten years.

The company made the voluntarily trading suspension so as to avoid any further price speculation and also to let the public have the chance to analyze carefully and consider investing in the offer shares. The price was below the IPO price of P110.3310.  It opened at P110 lower than what SMC predicted at around P120 to P185 from what I heard. Read the rest of this entry »