Monde Nissin Chooses Banks For Upcoming $1 Billion IPO

One step closer.

It looks like Monde Nissin's IPO is pushing through. According to a Bloomberg report, Monde NissinCorp. has chosen the banks that will arrange the company's upcoming and potentially record-breaking $1 billion initial public offering.

Monde Nissin has reportedly tapped Citigroup Inc. and Credit Suisse Group AG to arrange the IPO. Meanwhile, JPMorgan Chase & Co. and UBS Group AG have also been tapped to arrange the share sale. According to Bloomberg's sources, the offering size and timeline are subject to change.

Monde Nissin made headlines last month after reports that it would be launching a $1 billion IPO within the year. This could potentially be the largest IPO in the country to date, alongside the National Grid Corp. of the Philippines, which is also reportedly planning a $1 billion IPO this year.

Rumors of a Monde Nissin IPO have been circulating for years, but this development might be the furthest those plans have gone into becoming reality.

No word yet on when the IPO will launch.

Should Monde Nissin and the National Grid Corp. IPOs push through, then the Philippine Stock Exchange is more than halfway toward fulfilling their goal of at least three IPOs in 2021.

PSE is also aiming for four REITs this year, as well as a number of follow-on and stock rights offerings.

The 2021 stock market is already looking brighter than 2020.

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Anri Ichimura
Section Editor, Esquire Philippines
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