PHILIPPINES: Pepsi bottler plans share offering

By just-drinks.com editorial team | 5 July 2007

Local Pepsi bottler Pepsi-Cola Products Philippines Inc., which holds the Pepsi Bottling Group (PBG) licence for the Philippines, is planning a share offering which it hopes will raise around PHP6.9bn (US$151m), Reuters has reported.

The company is planning to sell 1.14bn shares, which represents about 20% of its capital. Around 70% of the shares are to be offered to foreign investors. Among other projects, the funds raised will be used to expand production of non-carbonated drinks.

Pepsi-Cola Products is 32.9%-owned by PepsiCo, whereas its major competitor Coca-Cola Bottlers Philippines Inc. is now 100%-owned by Coca-Cola.

Sectors: Soft drinks

Companies: Pepsi-Cola, Pepsi Bottling