Pepsi-Cola Philippines to Delist from Philippine Stock Exchange

Pepsi-Cola Philippines Inc. (PCPPI) will delist from the Philippine Stock Exchange (PSE) because its public ownership has fallen below the minimum requirement.

PCPPI’s public float has gone down to 2.1% versus the 10% minimum required by the PSE to remain listed.

PCPPI’s board approved the delisting and the plan to conduct another round of tender offer by Korean firm Lotte Chilsung Beverage Co. Ltd., the controlling stockholder.

Lotte reported it will make an offer to acquire up to 77.858 million common shares held by all remaining public shareholders.