Pepsi-Cola Products Philippines Inc. (PCPPI) has requested to be stricken off the local bourse effective November 26.
In preparation for its involuntary delisting, PCPPI controlling shareholder Lotte Chilsung Beverage Co. Ltd. is making a tender offer for the remaining 77.86 million common shares held by minority investors at a price of P1.95 per share.
At present, Lotte owns at least 97% of the total listed and outstanding PCPPI shares.
PCPPI said the tender offer which kicked off last Wednesday would run until October 13.
All shares to be tendered shall be consummated via a special block sale through the facilities of the Philippine Stock Exchange.
Source: Peso Economics
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