PHILIPPINES: Cosmos Bottling Corp to exit stock exchange
Coca-Cola FEMSA entered the Philippines in January
Cosmos Bottling Corporation, a subsidiary of Coca-Cola Bottlers Philippines, is leaving the Philippine bourse seven years after it last traded.
In a disclosure to the Philippine Stock Exchange on Wednesday (3 April), Cosmos said its board has agreed to delist its shares. Philippine Bottlers Inc, which is 100%-owned by Coca-Cola Bottlers Philippines, will pick up the shares in a tender offer from 17 April to 16 May, the disclosure said.
The transaction will cost PHP28.4m (US$689,650).
Cosmos stock was suspended from trading in May 2006 after the company failed to submit a 2005 annual report, according to local media. Only 1.79% of its shares remain in public hands, the report said.
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