Pepsi Philippines set to go public

Soda maker Pepsi Cola Products Philippines Inc. is planning to undertake an initial public offering of its shares. In a prospectus filed before the Securities and Exchange Commission, Pepsi Cola said it is seeking to raise as much as P6.88 billion from the sale of 1.142 billion primary and secondary shares. The company set its maximum offering price at P6.04 each share. The net proceeds from the offering will be used for "a series of growth projects including installing additional bottling lines" to increase capacity and to manufacture non-carbonated beverages from other plants besides its Muntinlupa plant and introducing new products and for general corporate purposes. b>- Cheryl Arcibal, GMANews.TV