KUALA LUMPUR, May 28 (Bernama) -- Monde Nissin Corporation (Monde Nissin) has completed the offering period for its proposed initial public offering (IPO) of 3,600,000,000 Common Shares (the Offering) at a price of Php13.50 per share, with an overallotment option of a further 540,000,000 Common Shares granted by the Selling Shareholder. (Php100 = RM8.643)
The Offering received overwhelming interest from global institutional investors and long-only funds, as well as strong demand from Philippines-based investors, resulting in an international and domestic book building process that was multiple times oversubscribed.
Based on a statement, the IPO is the largest ever on the Philippines Stock Exchange (PSE) and the largest food and beverage IPO in Southeast Asia.
It raises Php48.6 billion for Monde Nissin, excluding underwriting commissions and other offering expenses payable by the Company.
The new international and domestic investors join the previously announced 11 renowned, global long-term cornerstone investors in making up Monde Nissin’s initial shareholder base.
“The extraordinary level of interest that we received from a broad range of international and domestic investors is a testament to the world-class company that we have built and the significant growth opportunities that lie ahead,” said Monde Nissin Chief Executive Officer, Henry Soesanto.
Monde Nissin expects to commence trading on the PSE under the ticker symbol ‘MONDE’ on June 1.
As previously announced, the Company intends to use the net proceeds from the primary offer to fund capital expenditures, redeem the Arran Convertible Note and repay loans to commercial banks.
More details at www.mondenissin.com
-- BERNAMA
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