October 18, 2018 / 1:21 AM / a month ago

CORRECTED-Philippines' San Miguel to price share sale of food unit at 90-100 pesos apiece

(Corrects last paragraph to say final pricing is next week, not Oct 19 and adds sourcing)

MANILA, Oct 18 (Reuters) - Philippine conglomerate San Miguel Corp is looking to sell a minority stake in its food and beverage subsidiary for 90 pesos to 100 pesos ($1.67-$1.86) per share, below its maximum 140 pesos regulatory filing price, its president said on Thursday.

San Miguel Food and Beverage Inc’s (SMFB) share sale would likely be priced lower because of the volatile stock market, San Miguel President Ramon Ang told Reuters.

“I think it’s going to be a range of 90-100 pesos (per share),” Ang said.

Final pricing is set for next week, sources involved in the deal said. They declined to be identified as they were not authorised to speak to the media. ($1 = 53.8800 Philippine pesos) (Reporting by Neil Jerome Morales; Editing by Stephen Coates)

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