Monde Nissin slashes IPO price to P13.50 a share

Published May 8, 2021, 6:00 AM

by James A. Loyola

Monde Nissin Corporation has set the price of its initial public offering at P13.50 per share, substantially lower than its maximum offer price of P17.50.

     

With the lower offering price, the offering size is now at a maximum of P55.89 compared to the P72.45 billion it would have raised at its earlier indicated price.

Monde Nissin Corporation is offering 3.6 billion primary shares and up to 540 million over-allotment option shares.

The offer period of Monde Nissin is scheduled on May 24 to 28, 2021 while its tentative listing date is on June 7, 2021.

The IPO proceeds will be used for capital expenditures, redemption of a convertible note, and repayment of loans. 

Monde Nissin is the manufacturer behind the popular food brands LuckyMe!, SkyFlakes, Fita, Mama Sita’s, and Dutch Mill, among others.

It operates two core businesses known as the Asia-Pacific Branded Food and Beverage Business, which consists of instant noodles, biscuits, and other products; and the Meat Alternative Business. 

“As a company responsible for several household brands in the food sector, Monde Nissin is certainly a welcome addition to our roster of listed companies,” said PSE President and CEO Ramon S. Monzon.

He added that, “We are pleased that the company chose to raise capital and list in the PSE as investors have been looking forward to this IPO.”Ten percent of Monde Nissin’s firm offer shares will be reserved for local small investors (LSIs), who may subscribe to the IPO through the PSE EASy website (http://easy.pse.com.ph) or mobile application.

 
CLICK HERE TO SIGN-UP
 

YOU MAY ALSO LIKE

["business","business-news","business"]
[2696258,2740452,2740433,2740427,2740423,2740401,2740379]