Philippine snack and instant noodle maker prepares country’s largest-ever stock listing
Philippine food company Monde Nissin, known for its domestically popular brands such as Lucky Me, SkyFlakes, Voice and Bingo, has filed for an initial public offering (IPO) on the Philippine Stock Exchange with plans to raise up to 63 billion pesos ($1.3 billion), according to a March 4 release.
It would be the country’s biggest-ever stock listing, historic IPO data shows, outdoing the $500-million IPO of Robinson Retail in 2013.
The company, known for instant noodles, biscuits and baked snacks, as well as for popular food condiments and yogurt drinks, is seeking regulatory approval to sell up to 3.6 billion shares at a maximum price of 17.50 pesos ($0.36) apiece, with 540 million more shares in the pipeline through an over-allotment option, according to the filing.
A stock for retail investors
Analysts have noted that the brand awareness related to Monde Nissin’s products could be a motive for retail investors to buy into the food maker’s stock, particularly in an economy recovering from the coronavirus downturn.
The company said that it would use the proceeds from the listing for debt repayment and general operations such as an expansion of its manufacturing facilities in the Philippines and the development of alternative meat products.
Apart from having an iconic brand portfolio in the Philippines, Monde Nissin is present in over 30 countries globally and also owns UK healthy food maker Quorn which it bought in 2015. Earlier, it acquired instant food producer Menora Foods and Black Swan and Nudie, a maker of chilled dips and chilled juices in Australia.
Philippine food company Monde Nissin, known for its domestically popular brands such as Lucky Me, SkyFlakes, Voice and Bingo, has filed for an initial public offering (IPO) on the Philippine Stock Exchange with plans to raise up to 63 billion pesos ($1.3 billion), according to a March 4 release. It would be the country's biggest-ever stock listing, historic IPO data shows, outdoing the $500-million IPO of Robinson Retail in 2013. The company, known for instant noodles, biscuits and baked snacks, as well as for popular food condiments and yogurt drinks, is seeking regulatory approval to sell up to 3.6 billion...
Philippine food company Monde Nissin, known for its domestically popular brands such as Lucky Me, SkyFlakes, Voice and Bingo, has filed for an initial public offering (IPO) on the Philippine Stock Exchange with plans to raise up to 63 billion pesos ($1.3 billion), according to a March 4 release.
It would be the country’s biggest-ever stock listing, historic IPO data shows, outdoing the $500-million IPO of Robinson Retail in 2013.
The company, known for instant noodles, biscuits and baked snacks, as well as for popular food condiments and yogurt drinks, is seeking regulatory approval to sell up to 3.6 billion shares at a maximum price of 17.50 pesos ($0.36) apiece, with 540 million more shares in the pipeline through an over-allotment option, according to the filing.
A stock for retail investors
Analysts have noted that the brand awareness related to Monde Nissin’s products could be a motive for retail investors to buy into the food maker’s stock, particularly in an economy recovering from the coronavirus downturn.
The company said that it would use the proceeds from the listing for debt repayment and general operations such as an expansion of its manufacturing facilities in the Philippines and the development of alternative meat products.
Apart from having an iconic brand portfolio in the Philippines, Monde Nissin is present in over 30 countries globally and also owns UK healthy food maker Quorn which it bought in 2015. Earlier, it acquired instant food producer Menora Foods and Black Swan and Nudie, a maker of chilled dips and chilled juices in Australia.
