KUALA LUMPUR, May 19 (Bernama) -- Monde Nissin Corporation (Monde Nissin) has priced its proposed initial public offering (IPO) at Philippine peso (Php) 13.50 per share. (Php100 = RM8.63)
The IPO consists of 3,600,000,000 Common Shares (the Offer), with an overallotment option of a further 540,000,000 Common Shares granted by the Selling Shareholder.
The global food and beverages company headquartered in the Philippines also announced that the Philippine Securities and Exchange Commission (SEC) issued the Order of Registration and Permit to Sell, approving the Company’s proposed IPO on the Philippine Stock Exchange (PSE).
The IPO is a landmark for the Philippines and Southeast Asia. The size of the Offer is the largest ever IPO on the PSE, and is also the largest ever Food & Beverage IPO in Southeast Asia.
As part of the Offer, Monde Nissin secured 11 renowned cornerstone investors, who will form the long-term base of the Company’s share register.
The cornerstone investors are: AIA Investment Management Private Limited, Stichting Depositary APG Emerging Markets Equity Pool, Avanda Investment Management Pte Ltd, The Capital Group Funds, Eastspring Investments (Singapore) Limited, FIL Investment Management (Hong Kong) Limited, GIC Private Limited, Goldman Sachs Asset Management (Singapore) Pte Ltd, M&G Investment Management Limited, NS Partners Ltd and RWC Asset Advisors (US) LLC.
“We are pleased that these world-class investors share our vision of the future and will cornerstone our IPO. Their commitment is a strong vote of confidence in our company, strategy and talented team,” said Monde Nissin Corporation Chief Executive Officer, Henry Soesanto in a statement.
The offer period for Philippines-based trading participants and retail investors is from May 19 to 25.
Monde Nissin’s Common Shares are expected to begin trading on the Main Board of the PSE on June 1, 2021 under the stock symbol ‘MONDE’.
More details at www.mondenissin.com.
-- BERNAMA
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