Lucky Me! noodle maker eyes $1B IPO

·1 min read

MONDE Nissin Corp., the Filipino company owned by Betty Ang, is eyeing to go public this year to raise as much as $1 billion, according to a Bloomberg report.

Monde Nissin, the company behind the Lucky Me! instant noodles, is likely to launch this year an initial public offering (IPO), which it had intially eyed a few years back.

Monde Nissin’s maiden listing is among the potential IPOs in 2021, including that of National Grid Corp. of the Philippines, which is also seeking an to raise as much as $1 billion from the equities market.

Aside from instant noodles, Monde Nissin also sells biscuits and baked goods, exporting them to more than 40 countries.

The Philippine Stock Exchange (PSE) is eyeing at least three IPOs and four real estate investment trusts (REIT) for the new year.

“For 2021, we look forward to a better market performance on expectations that confidence in our economic recovery will gradually return,” PSE president Ramon Monzon earlier said in a statement.

In 2020, only two IPOs and one REIT were launched: grocery store MerryMart Consumer Corp. and internet provider Converge Solutions Inc. The first-ever Philippine real estate investment trust, Ayala Land REIT (AREIT), also made its debut in the PSE in 2020.

The PSE raised around P104 billion in 2020: P44.3 billion worth of IPOs, P41.2 billion on follow-on offerings, P5.6 billion through private placements, and P12.8 billion from stock rights offering. (CSL)