The Philippine Stock Exchange approved the maiden share offering of noodle maker Monde Nissin Corp. and the follow-on offering of Ayala Corp. unit AC Energy Corp.
The planned share sale of the two companies are scheduled in May.
Monde Nissin is offering 3.6 billion primary shares and up to 540 million over-allotment option shares at a price of up to P17.50 apiece for the initial public offering.
It will determine the final price on May 18, 2021 after the company conducts a book-building process.
The offering period of Monde Nissin is scheduled on May 24 to 28, 2021 while the tentative listing date is set on June 7, 2021.
“As a company responsible for several household brands in the food sector, Monde Nissin is certainly a welcome addition to our roster of listed companies. We are pleased that the company chose to raise capital and list in the PSE as investors have been looking forward to this IPO,” said PSE president and chief executive Ramon S. Monzon.