Published March 4, 2021, 4:54 PM
Monde Nissin Corporation, manufacturer of popular food and beverage products such as Lucky Me! instant noodles and Sky Flakes, is raising up to P72.5 billion from its planned initial public offering.
The Securities and Exchange Commission said it has received the registration statement of Monde Nissin Corp. for the IPO of up to 3.6 billion new common shares at an offer price of up to P17.50.
It will also have an overallotment option of up to 540 million common shares consisting of secondary shares being sold by shareholder Henry Soesanto.
About 70 percent of the IPO shares will be sold to domestic and international institutional investors, including cornerstone investors, while the remaining 30 percent will be sold through the Philippine Stock Exchange’s trading participants and to local small investors.