The initial public offering of Philippines-based food and beverage company Monde Nissin Corporation, raising USD 1 billion, is the largest ever on the Philippine Stock Exchange.
Monde Nissin Corporation lists shares at Philippine Stock Exchange
The stock traded at a range of P13.46 to P13.56 per share before closing at P13.48 apiece, slightly lower than its IPO price of P13.50.
Monde Nissin raised P48.6 billion from its offering of 3.6 billion shares with an over allotment option of 540 million shares.
Securities and Exchange Commission Chairman Emilio Aquino said “Monde Nissin IPO offering is worth as much as P48.6 Billion the largest IPO in Southeast Asia this year so far.”
He added that, “This could hopefully help regain the confidence of the investing public on the PH stock market; as well as stir up our economy considering that majority of its proceeds from the offering will be used for capital expenditures in its operations in the Philippines.”
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