Business

Betty Ang’s Monde Nissin sets sights on $1B IPO

The country’s leading noodles and biscuit maker founded by bilyonaryo Betty Ang is reportedly planning an initial public offering this year that could raise around $1 billion, the largest share in history.

According to a Bloomberg report, Monde Nissin has tapped Citigroup Inc., Credit Suisse, JP Morgan Chase & co. and UBS Group AG to manage its stock market debut.

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The final size of the issue and the timeline have yet to be finalized.

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Monde Nissin -the company behind popular brands Lucky Me!, Nissin, Monde, Bingo and Voice – partnered with Indonesia’s largest bread products maker Nippon Indosari to jumpstart operations in the Philippines in 2016. It has grown significantly and has been consistently included in the top 50 corporations in the Philippines based on gross revenues since 2000.

Its subsidiaries include Monde M.Y. San, manufacturer of biscuit brands SkyFlakes and Fita; Monde Nissin Thailand and Monde Nissin Australia, comprising Black Swan, Nudie and Menora Foods.

Monde Nissin also distributes Mama Sita’s and Dutch Mill in the Philippines.

Ang is the 38th richest person in the Philippines with a net worth of $185 million.

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