Monde Nissin prices IPO at Php13.50 per share and secures overwhelming commitments from premier cornerstone investors 5 hours ago
NOT FOR PUBLICATION OR DISTRIBUTION IN THE UNITED STATES, EUROPEAN ECONOMIC AREA, THE UNITED KINGDOM, CANADA, JAPAN, AND AUSTRALIA
Record Demand from Global Investors Reflects Exceptional Support for the Growth Opportunities of the APAC and Quorn Businesses in the Philippines’ largest ever IPO
SEC Approves Company’s Registration Statement and Issues Order of Registration and Permit to Sell Securities
Sets June 1 as Planned Listing Day on the PSE
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.
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.
Monde Nissin’s IPO receives PSE approval
23rd April 2021 3 hours ago
ANTARA/Business Wire
Not for Publication or Distribution in the United States, European Economic Area, the United Kingdom, Canada, Japan, and Australia
Makati City, Philippines (Antara/Business Wire)- Monde Nissin Corporation (“Monde Nissin” or the “Company”) today announced it has received the Notice of Approval from the Philippine Stock Exchange (“PSE”) for its proposed initial public offering of its Common Shares (the “Offer”). The PSE approval comes one day after the Company received pre-effective approval from the Philippine Securities and Exchange Commission (“SEC”).
As previously announced, Monde Nissin plans to issue up to approximately 20% of the issued and outstanding capital stock of the Company after completion of the Offer if the overallotment option is not exercised. The Company intends to use the net proceeds from the primary offer to fund Capital Expenditure, redemption