Pepsi-Cola Products Philippines Inc. (PCPPI), local bottler for global softdrinks giant Pepsi-Cola, will offer up to 1.31 billion shares in an initial public offering (IPO) set in January next year.
More than 70% of the total shares will be made available to foreign investors. Proceeds from the IPO will be used to finance expansion in the country.
IPO offer price and offer period
The shares currently have an indicative price of P6.04. The final offer price will be determined through an international book-building process and will be known by January 19.
The international book-building exercise will run from January 8 to 18, and the domestic offer period will be from January 21 to 28.
Stock Code: PIP
The stock will be listed on the Philippine Stock Exchange (PSE) and will start secondary trading from February 1.
Pepsi Cola is the exclusive bottler and distributor of all Pepsi products in the Philippines. It is co-owned by Lotte Chilsung compan on South Korea.
Marketed products in the country include Regular Pepsi,Pepsi Light, Pepsi Max, Mirinda, 7-Up, Mountain Dew, Sting, Lipton Ic Tea, Tropicana and Gatorade.
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