Business

Monde Nissin files for largest IPO in PH history at P63B

Monde Nissin Corp., the company behind popular instant noodle maker Lucky Me, has officially filed for an initial public offering which could raise up to P63 billion, the country’s largest-ever first-time share sale.

The country’s leading noodles and biscuit maker founded by bilyonaryo Betty Ang is seeking regulatory approval to sell as many 3.6 billion primary shares at a maximum price of P17.50 each share, according to regulatory documents filed with the Securities and Exchange Commission.

It may sell up to 540 million more shares in case of strong demand.

UBS, Citi, Credit Suisse are JP Morgan are the joint global coordinators while BDO Capital ,BPI Capital Corp. and First Metro Investment Corp. are the local underwriters.

The company, which also known for producing popular brands Nissin, Monde, Bingo and Voice, 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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