Monde Nissin to Raise $1 Billion in Philippinesâ Biggest IPO
May 07 2021, 5:37 AM
May 06 2021, 8:58 AM
May 07 2021, 5:37 AM
(Bloomberg) Monde Nissin Corp. has set a final price of 13.50 pesos per share for its initial public offering, putting the Philippine food maker on track to raise $1 billion in the nationâs biggest ever first-time share sale.
(Bloomberg) Monde Nissin Corp. has set a final price of 13.50 pesos per share for its initial public offering, putting the Philippine food maker on track to raise $1 billion in the nationâs biggest ever first-time share sale.
The producer of the Southeast Asian countryâs best-selling instant noodle brand Lucky Me! is selling 3.6 billion shares at that price, it said in a letter to the local stock exchange on Thursday. Thatâs lower than the 17.50 pesos maximum price indicated in its IPO filing.
Manila: The producer of Philippines best-selling instant noodle brand
Lucky Me! is selling 3.6 billion shares, it said in a letter to the local stock exchange. Monde Nissin has set a final price of 13.50 pesos per share on offer. That s lower than the 17.50 pesos maximum price indicated in its IPO filing.
Still, at 48.6 billion pesos ($1 billion), Monde Nissin s offering will be the biggest on record in the country. Del Monte Philippines Inc., another food company best known for its pineapple products, last month filed for an IPO that could raise as much as 38.3 billion pesos. (SM Investments Corp. s 28.8 billion-peso IPO in 2005 was the biggest so far.)
Grab, a
Gojek-Tokopedia combination, and
Sea Ltd is shaping up in Southeast Asia’s largest market, Indonesia. As the growing tentacles of these companies extend to new areas, new battle lines will also be drawn across this region.
We also looked at how the new string of SE Asian companies looking to tap the public markets is hoping to emulate the success of NYSE-listed Sea Ltd.
Grab has already announced plans to merge with an Altimeter SPAC. Other hopefuls include Gojek-Tokopedia (or
GoTo, as the combined entity is likely to be named),
Traveloka (which is reportedly in conversation with a Bridgetown SPAC for a merger) and retail analytics firm
Photo credit: https://nutriasia.com/
Through the Share-a-Chair initiative, NutriAsia and Del Monte collect single-use plastic waste from its different offices and plant sites to turn them into school chairs and other needed furniture for underprivileged public schools and communities. It is the culmination of the two companies’ partnership forged to help the Department of Education address the perennial shortage of school chairs.
In a statement, both firms said they collected 19.3 metric tons of plastic waste from their offices and plants for a period of six months. Part of this collection went to the Share-a-Chair donation of 600 school chairs and teachers’ tables distributed to 12 different partner schools in Bukidnon, Cagayan de Oro City, Misamis Oriental, and Davao that NutriAsia and Del Monte have chosen for the program.