Push Admin

Monde Nissin books Philippines' biggest initial public offering

Article (news)

ABS-CBN News

<p>MANILA – Monde Nissin Corporation has booked the Philippines’ largest initial public offering, raising P48.6 billion from both domestic and international investors, the company said on Wednesday.</p><p>The IPO consists of 3.6 billion common shares at P13.50 per share, with overallotment option of a further 540 million common shares.</p><p>The company behind the popular Lucky Me instant noodles brand and alternative meat Quorn said its international and domestic book building process was multiple times oversubscribed. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/03/04/21/monde-nissin-files-for-up-to-p63-billion-ipo-in-largest-ever-listing">Monde Nissin files for up to P63-billion IPO in &#x27;largest ever listing&#x27;</a></li></ul><p>“The extraordinary level of interest that we received from a broad range of international and domestic investors is a testament to the world-class company that we have built and the significant growth opportunities that lie ahead,” said Monde Nissin CEO Henry Soesanto. </p><p>Monde Nissin&#x27;s stock debut is the largest ever on the Philippines Stock Exchange and the largest food and beverage IPO in Southeast Asia. </p><p>The company said money raised from the IPO will be used for capital expenditures, repayment of loans, and redemption of convertible notes.</p><p>“We intend to stay ahead of consumer demands through innovation and investment in technology to provide healthier and more delicious food,” Soesanto said.</p><p>The company said it expects to commence trading on the PSE under the ticker symbol “MONDE” on June 1 with Soesanto and guests ringing the opening bell. </p><p>Monde Nissin reported net sales of P68 billion for 2020, up 4.6 percent from P65 billion in 2019. Net profit rose 21 percent to P8.07 billion from P6.65 billion.</p><p>The Philippines, a historical laggard in Southeast Asia in terms of capital market fundraising, is shaping up as the region&#x27;s biggest IPO market of 2021, despite local equity markets falling nearly 12 percent so far this year. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/02/19/21/philippines-set-to-take-rare-top-spot-for-ipos-in-southeast-asia">Philippines set to take rare top spot for IPOs in Southeast Asia</a></li></ul><div><strong>RELATED VIDEO</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1632601" width="100%"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

<p>Monde Nissin's stock debut is the largest ever on the Philippines Stock Exchange and the largest food and beverage IPO in Southeast Asia. </p>

Monde Nissin's stock debut is the largest ever on the Philippines Stock Exchange and the largest food and beverage IPO in Southeast Asia.