Monde Nissin, Maker of Lucky Me!, Considering $1 Billion IPO
Monde Nissin Corp., one of the country's biggest private corporations, is mulling an initial public offering, according to a report from Bloomberg.
The IPO could raise up to $1 billion, and should it push through, it could be the biggest IPO in the Philippines to date.
According to the report, Monde Nissin's IPO could happen within the year. The National Grid Corp. of the Philippines is also reportedly planning a 2021 IPO that could raise up to $1 billion.
Monde Nissin is the manufacturer of household Filipino products like Lucky Me!, Nissin, Bingo, and more. It's also the local distributor of Mama Sita's, Dutch Milk, and Pringles. In 2015, the Philippine company purchased U.K.-based Quorn, a vegan meat substitute sold worldwide, for £550 million (roughly P38.5 billion in 2015).
Monde Nissin is one of the country's top companies in terms of revenue, but it has remained private since its inception in 1979. Founded by Betty Ang, who has been dubbed one of Asia's most mysterious tycoons, Monde Nissin has operated under the radar despite being one of the country's top noodle and biscuit makers. According to a report by Forbes Asia, Monde Nissin is partly owned by Ang's in-laws, the Kweefanus', who run their own snack empire in Indonesia called Khong Guan Indonesia.
Reports of Monde Nissin going public have been swirling since 2015.