GIC buys 9.5% stake in Philippine firm, Pepsi-Cola Products
Posted by theonlinecitizen2 on January 31, 2008
From Channel NewsAsia, Jan 31 2008
SINGAPORE: The Government of Singapore Investment Corp, or GIC, has bought a 9.5 per cent stake in the Philippine firm Pepsi-Cola Products.
A GIC spokesperson confirmed this when contacted by Channel NewsAsia.
In its initial public offering, Pepsi-Cola Products offered 1.14 billion shares to investors, priced at 3.5 Philippine pesos each.
The IPO raised about four billion pesos or S$140 million.
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.
Its shares will start trading on the Philippine Stock Exchange on Friday. – CNA/vm
theonlinecitizen2 
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