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Philippine Billionaire Sy Family’s SM Prime Earmarks $1.7 Billion To Expand Property FootprintSM Prime Holdings—controlled by the family of the late retail billionaire Henry Sy Sr.—will spend 100 billion pesos ($1.7 billion) this year to expand its property footprint across the Philippines.
SM Investments—the holding company of the family of the late retail billionaire Henry Sy Sr—will spend 60 billion pesos ($1 billion) to buy back its shares, which are trading at a two-year low.
Bloomberg ranked the family of the late taipan Henry Sy Sr. as the 19th richest family in the region, with a wealth of $15.1 billion. Starting from a small shop in downtown Manila, the SM Group ...
Background: Sy has vast property holdings that he recently merged with mall operator SM Prime Holdings to create a company with a $9.3 billion market cap. Shares of his holding firm SM Investments ...
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