The Edge Singapore, 12 May 2009
Pepsi-Cola Products Philippines Inc., the nation’s second-largest soda bottler, said the Government of Singapore Investment Corp. cut its stake in the company to 10.3% last month, as the stock gained 17%, reported Bloomberg.
Singapore’s sovereign wealth fund sold 29.66 million shares for an average of 1.02 pesos (3 cents) each in the open market from April 2 through April 30, Pepsi-Cola Philippines said in a statement late yesterday. That trimmed the holding of GIC by about eight-tenths of 1%.
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