MANILA – PepsiCo's Philippines bottler plans to go public next month to raise P7.9 billion ($190 million) to finance expansion plans, the Philippine Stock Exchange said yesterday.

Pepsi-Cola Products Philippines Inc plans to offer up to 1.31 billion shares at an indicative price of P6.04 per share, an exchange notice said.

The share bloc represents about 36 percent of the company's capital.

The selling shareholders are Guoco Assets Philippines Inc and The Nassim Fund.

Up to 70 percent of the offer will be made available to foreign investors, it added.

An international book-building process will run from January 8 to 18, with the domestic offer period set on January 21 to 28.

The listing has been tentatively set for February 1.

The company, which owns the local bottling license for US snack and beverage giant PepsiCo, said it will use the proceeds to finance expansion.*AFP

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