SM Investments. The group traces its roots to Henry Sy Sr., who sold overrun shoes in 1958 at a store in Manila he aptly called Shoemart. Following Sy’s death in 2019, his six children—Teresita, ...

SM Investments—the holding company of the family of the late retail billionaire Henry Sy Sr—will spend $1 billion to buy back its shares, which are trading at a two-year low.

SM Investments. The group traces its roots to Henry Sy Sr., who sold overrun shoes in 1958 at a store in Manila he aptly called Shoemart. Following Sy’s death in 2019, his six children ...