San Miguel jumps nearly 9% after tender offer for bonds

Reuters

Posted at Jan 31 2013 10:37 AM | Updated as of Jan 31 2013 06:37 PM

MANILA - Shares of San Miguel Corp., the Philippines' most diversified conglomerate, jumped nearly 9 percent in early trade on Thursday after a tender offer to redeem convertible bonds due 2014.

Trading in the stock resumed on Thursday following a one-week halt imposed after the company launched the tender offer. The stock was trading up 5.8 percent after the first eight minutes of trade.

The offer ran until Jan. 29.