Philippines Monde Nissin files for up to P63-billion IPO in ‘largest ever listing’

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Monde Nissin Corp, maker of ubiquitous Lucky Me! instant noodles, on Thursday filed for an up to P63 billion ($1.3 billion) initial public offering (IPO), in what is set to be the country’s largest-ever listing.

The filing comes as the Philippines, a historical laggard in Southeast Asia in terms of fundraising and market activity, is shaping up to be the region’s biggest IPO market this year. 

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.

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