Connect with us

Hi, what are you looking for?

Economy

Pepsi secures approval of PSE for voluntary delisting of shares

PEPSI-COLA Products Philippines, Inc. said on Thursday that the Philippine Stock Exchange (PSE) approved its petition to delist its shares.        

In a disclosure, Pepsi said the PSE granted its petition for voluntary delisting filed on Sept. 15 and already ordered the delisting of its shares from the latter’s official registry.

“The delisting shall be effective as of the end of business on December 18, 2020, subject to the payment of the voluntary delisting fee,” it said.

On Oct. 23, Pepsi received the written approval of its stockholders to delist its shares and voluntarily exit the market.

Pepsi decided to delist voluntarily after its public ownership fell to 2.1%, far from the 10% minimum requirement of the PSE.

The said figure was a result of the company’s sale of 30.7% or 1.13 billion shares to Lotte Chilsung Co. Ltd. earlier this year.

Shares in Pepsi at the stock exchange were last traded on June 17, when it ended at P1.70 per piece. — Revin Mikhael D. Ochave

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

GROSS BORROWINGS by the National Government had reached P2.75 trillion as of end-October as it continued to raise money for its pandemic response, preliminary...

Economy

By Luz Wendy T. Noble, Reporter THE PHILIPPINE Statistics Authority (PSA) said the base year for the consumer price index (CPI) will change to...

Economy

SOME INDIAN COMPANIES, including those from the pharmaceutical industry, are interested in investing in economic zones in the Philippines, according to an India Business...

Economy

By Keren Concepcion G. Valmonte, Reporter HOSPITALITY GROUPS expect a rebound in tourism as coronavirus disease 2019 (COVID-19) vaccination rates continue to improve and...

Economy

BUSINESSWORLD’s Luz Wendy T. Noble was recognized as the Best Reporter of the Year for Banking at the 30th annual awards of the Economic...

Economy

THE Securities and Exchange Commission (SEC) has flagged eight more entities in separate advisories for their unregistered investment solicitation programs. These offerings are PH...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Economy

Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Investing

Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.