MANILA – The Securities and Exchange Commission (SEC) received Thursday the registration statement of Monde Nissin Corp. for the initial public offering (IPO) of up to 3.6 billion common shares at an offer price of up to PHP17.50 per share, with an over-allotment option of up to 540 million common shares.
A maximum amount of gross proceeds of PHP63 billion may be expected from the offer, excluding proceeds from the exercise of an over-allotment option of up to 15 percent of the offer shares.
In a statement, the SEC said net proceeds from the offer will be used to fund the company’s capital expenditures, the redemption of certain notes, repayment of loans, and for general corporate purposes.
These are intended to be utilized for the expansion and enhancement of its production and technological capabilities, including its businesses in the United Kingdom and other key markets, the company said in a separate statement.
The company engaged UBS AG Singapore Branch, Citigroup Global Markets Limited, Credit Suisse (Singapore) Limited and J.P. Morgan Securities PLC as joint global coordinators for the offer.
BDO Capital & Investment Corporation, BPI Capital Corporation and First Metro Investment Corporation will serve as local lead underwriters. (PR)
