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./ A3 G) [8 U' r6 m. r
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A GIC spokesperson confirmed this when contacted by Channel NewsAsia.
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4 _, h& V4 U' o* [! ?In its initial public offering, Pepsi-Cola Products offered 1.14 billion shares to investors, priced at 3.5 Philippine pesos each.
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The IPO raised about four billion pesos or S$140 million.% [$ @* J- g+ _5 B) }6 `6 s

  L1 w" ^& S5 RPepsi-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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  {- S9 f  ?9 @  c  `Its shares will start trading on the Philippine Stock Exchange on Friday. - CNA/vm

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