Food giant Monde Nissin Corp. has bagged global funds as long-term investors in its anticipated P55.9-billion public debut this month.
In a statement on Wednesday, Monde Nissin claimed it had secured commitments from 11 cornerstone investors.
These were AIA Investment Management Private Ltd., Stichting Depositary APG Emerging Markets Equity Pool, Avanda Investment Management Pte. Ltd., The Capital Group Funds, Eastspring Investments (Singapore) Ltd., and FIL Investment Management (Hong Kong) Ltd.
GIC Private Limited, Goldman Sachs Asset Management (Singapore) Pte. Ltd., M&G Investment Management Ltd., NS Partners Ltd and RWC Asset Advisors (US) LLC were also listed as cornerstone investors.
“Their commitment is a strong vote of confidence in our company, strategy and talented team,” Henry Soesanto, CEO of Monde Nissin, said in the statement.
“We are excited about the opportunities that lie ahead as we accelerate our growth plans for our meat alternative business Quorn, which is a global player in the transformation of sustainably produced healthier food,” he added.Monde Nissin is poised to launch the country’s biggest initial public offering.
It said the offer period for local brokers and retail investors will run from May 19 to 25.
The company will make its trading debut on the Philippine Stock Exchange on June 1 this year under the symbol “Monde”.A total of 3.6 billion common shares and an overallotment option for 540 million shares will be offered. The offer price was P13.50 per share.
UBS AG Singapore Branch, Citigroup Global Markets Ltd. and J.P. Morgan Securities plc. are the joint global coordinators and joint bookrunners for the proposed offering.