MANILA, Philippines—The Securities and Exchange Commission (SEC) has cleared a landmark P72.45-billion initial public offering (IPO) planned by food manufacturing giant Monde Nissin Corp.
At its maximum price, the proposed IPO could be the largest in the history of the local stock market.
The company behind iconic brands, like Lucky Me! noodles, Skyflakes crackers, Fita crackers, Monde baked goods and Quorn meat-free products, was authorized to sell as much as 3.6 billion common shares at a maximum price of P17.50 per share. The offer comes with an over-allotment option of up to 540 million secondary common shares.
Proceeds from the offering will be used for capital expenditur…
Keep on reading: SEC OKs P72.45-B Monde Nissin Corp. IPO, biggest in stock market history