Food maker Monde eyes P72.45B IPO, biggest debut in PH stock market
MANILA, Philippines—Food manufacturer Monde Nissin Corp. is seeking regulatory approval to sell as much as P72.45 billion worth of shares through an initial public offering, potentially the largest stock market debut in the country.
Monde Nissin plans to sell as much as 3.6 billion common shares with an over allotment option of 540 million common shares at a maximum price of P17.50 per share,
The company behind iconic brands like Lucky Me! instant noodles, Skyflakes crackers, Fita crackers, Monde baked goods and Quorn meat-free products has mandated UBS, Citi, Credit Suisse and JP Morgan as joint global coordinators.
BDO Capital, BPI Capital and First Metro Investment Corp. were mandated as the local lead underwriters.
Monde Nissin has been in the food manufacturing business for the last 40 years.
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