Monde Nissin: IPO multiple times oversubscribed bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
Monde Nissin prices IPO at Php13.50 per share and secures overwhelming commitments from premier cornerstone investors 5 hours ago
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Makati City, Phillippines (Antara/Business Wire)- Monde Nissin Corporation (“Monde Nissin” or the “Company”) has priced its proposed initial public offering (“IPO”) at Php13.50 per share. 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.
Published May 19, 2021, 4:35 PM
Food and beverage firm Monde Nissin Corporation disclosed the list of the 11 cornerstone investors that subscribed to about 67 percent of the shares from its P55.9 billion initial public offering.
In a statement, the firm said 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.
The firm said the 11 renowned cornerstone investors will form the long-term base of the Company’s share register.
Private investment, which was hit by the coronavirus pandemic, have regained growth momentum, and multi-strategies have become a bright spot in the hedge fund universe, according to market participants.
The pandemic dragged down investment activities and deal flows in the global private market, including private equity and private debt, in 2020, but fundraising has picked up this year, with dry powder reaching new highs and valuations rising, said Richard Tan, portfolio specialist for Asia at consulting firm Mercer.
He was among market participants who shared their views on global alternative investment trends at a virtual meeting organised by
Asia Asset Management. Participants at the April 27 meeting included representatives from asset management firms and the Asian Infrastructure Investment Bank (AIIB).