Business

All systems go for Monde Nissin’s IPO, ACEN follow-on offer

Bilyonaryo Betty Ang’s Monde Nissin Corp. and AC Energy Corp. have hurdled all regulatory requirements for their planned share offerings after receiving the green light from the Philippine Stock Exchange.

Snack manufacturing giant Monde Nissin Corp. is gearing up for what could turn out to be the country’s largest ever initial public offering.

RELATED STORY: Monde Nissin gets SEC’s go-ahead for mammoth P72.4B IPO

The maker of Lucky Me noodles, Skyflakes and Fita crackers, Monde cookies and Quorn meat-free products, is selling 3.6 billion primary shares and up to 540 million over-allotment option shares at P17.50 per share.

RELATED STORY: ACEN investor Arran to exit from Monde Nissin, get nearly a third of P63B IPO

The final offer price will be determined on May 18 following a book building process.

Monde Nissin’s maiden share sale will run from May 24 to 28 while its trading debut is scheduled on June 7.

“As a company responsible for several household brands in the food sector, Monde Nissin is certainly a welcome addition to our roster of listed companies. We are pleased that the company chose to raise capital and list in the PSE as investors have been looking forward to this IPO,” said PSE president and CEO Ramon S. Monzon.

Following a successful rights offering in January, AC Energy Corp. is ready to tap the equities market anew with its planned follow on offering, estimated to fetch as much as P16.48 billion.

ACEN shares will be sold at a maximum price of P8.20 per share. The share sale is scheduled on May 3 to 7 while the listing of the shares has been tentatively set on May 14.

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