Published May 11, 2021, 5:00 AM
Philippine food maker Monde Nissin Corp. is in talks with Singapore state investment fund GIC Pte and Hong Kong insurer AIA Group Ltd. to become cornerstone investors in what could be the country’s biggest-ever initial public offering, according to people familiar with the matter.
Fidelity International and Capital Group Cos. are also in discussions to buy stock in the offering for the Makati-based company, said the people, who asked not to be named as the information is private.
Monde Nissin set a final price of 13.50 pesos per share for its IPO, according to a stock exchange filing. That would put the Philippine food maker on track to raise 48.6 billion pesos ($1 billion), according to data compiled by Bloomberg.
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Publishing date: Jan 22, 2021 • January 23, 2021 • 1 minute read •
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(Bloomberg) Kuaishou Technology, the Chinese short-video startup, has attracted BlackRock Inc. and the Abu Dhabi Investment Authority as cornerstone investors in its Hong Kong initial public offering, people with knowledge of the matter said.
Capital Group Cos. and Canada Pension Plan Investment Board also committed to buy stock in the offering, the people said, asking not to be identified because the information is private. Kuaishou is targeting to raise as much as $6 billion from the share sale, which is set to start taking orders as soon as Monday, the people said.
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December 11, 2020
Socially responsible investments like those that track environmental, social, and governance factors have gained momentum, and have even caused some to push off investments in fossil fuel.
Money manager Jacinto Hernandez, a partner at Capital Group Cos., has questioned the sensibility of still investing in oil and gas companies after the novel coronavirus pandemic crushed global demand for fuel and the near-term outlook on the energy sector, the Wall Street Journal reports.
Even before the pandemic cut the world demand for fuel, the future of the crude oil industry was already under threat due developments in electric cars, the proliferation of renewable energy, and a spotlight on the long-term impact of climate change.
Does investing in oil and gas companies still make sense? Money manager Jacinto Hernandez has doubts.
The partner at Capital Group Cos. liquidated $1 billion in oil and gas stocks as Covid-19 spread around the globe in February, according to regulatory filings. Mr. Hernandez said he suspected the expansion of the new coronavirus in Italy was about to crush global demand for gasoline, diesel and jet fuel and with it, any near-term thesis for investing in oil companies. For Mr. Hernandez, the future of fossil-fuel investing depends on the virus and consumer behavior.
Adam Waterous, a Canadian private-equity investor, looked at the same circumstances and came to the opposite conclusion: This was the time to buy. Demand will eventually bounce back, he said, and when it does, prices will spike sometime later this decade. He backed up that conviction in July when his Waterous Energy Fund purchased a big stake in an oil sands company.
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