The Philippines’ Monde Nissin Corp, maker of ubiquitous Lucky Me! instant noodles, on Thursday filed for an up to 63 billion peso ($1.3 billion) IPO, in what is set to be the country’s largest-ever listing.
The owner of meat alternative Quorn is seeking regulatory approval to sell as many as 3.6 billion primary shares at a maximum price of 17.50 pesos ($0.3605) each, regulatory filing documents showed. It can sell up to 540 million more shares through an over-allotment option.
Monde Nissin is banking on growing demand for both consumer staples and higher-value products. Lucky Me! is an iconic brand in the Philippines while British meat substitute Quorn, bought in 2015 for $831 million, gives the firm a foothold in the healthy food category.
Read more at Reuters
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