GIC buys 9.5% stake in Philippine firm, Pepsi-Cola Products

SINGAPORE: The Government of Singapore Investment Corp, or GIC, has bought a 9.5 per cent stake in the Philippine firm Pepsi-Cola Products.
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A GIC spokesperson confirmed this when contacted by Channel NewsAsia.
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1 T" ^1 u. i; A: l4 E/ CIn its initial public offering, Pepsi-Cola Products offered 1.14 billion shares to investors, priced at 3.5 Philippine pesos each.3 w8 B, g4 ]$ t" W3 n" [

* r8 g, V' [. Z6 c* V1 WThe IPO raised about four billion pesos or S$140 million.
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Pepsi-Cola Products said the proceeds will be used to install additional bottling lines to increase capacity and enable the company to manufacture more non-carbonated drinks.
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Its shares will start trading on the Philippine Stock Exchange on Friday. - CNA/vm

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