Bloomberg News

Puregold Rises to Record in Manila on Plans to Store Expansion

December 20, 2011

Dec. 21 (Bloomberg) -- Puregold Price Club Inc., the second-largest Philippine operator of hypermarkets and supermarkets, climbed to a record in Manila trading after Chairman Lucio Co said he plans to spend 10 billion pesos to double his store network to 200 branches in five years.

The stock climbed 3.2 percent to 18.60 pesos as of 9:41 a.m. local time, heading for the highest close since the stock began trading on Oct. 5. The benchmark Philippine Stock Exchange Index gained 0.7 percent.

To contact the editor responsible for this story: Allen Wan at awan3@bloomberg.net


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