NOT FOR PUBLICATION OR DISTRIBUTION IN THE UNITED STATES, EUROPEAN ECONOMIC AREA, THE UNITED KINGDOM, CANADA, JAPAN, AND AUSTRALIA
Record Demand from Global Investors Reflects Exceptional Support for the Growth Opportunities of the APAC and Quorn Businesses in the Philippines’ largest ever IPO
SEC Approves Company’s Registration Statement and Issues Order of Registration and Permit to Sell Securities
Sets June 1 as Planned Listing Day on the PSE
MAKATI CITY, Phillippines–(BUSINESS WIRE)–May. 19, 2021
Monde Nissin Corporation (“Monde Nissin” or the “Company”) has priced its proposed initial public offering (“IPO”) at Php13.50 per share. The IPO consists of 3,600,000,000 Common Shares (the “Offer”), with an overallotment option of a further 540,000,000 Common Shares granted by the Selling Shareholder.
The Company also announced that the Philippine Securities and Exchange Commission (“SEC”) issued the Order of Registration and Permit to Sell, approving the Company’s proposed IPO on the Philippine Stock Exchange (“PSE”).
The IPO is a landmark for the Philippines and Southeast Asia. The size of the Offer is the largest ever IPO on the PSE, and is also the largest ever Food & Beverage IPO in Southeast Asia. As part of the Offer, Monde Nissin secured 11 renowned cornerstone investors, who will form the long-term base of the Company’s share register.
The cornerstone investors are: AIA Investment Management Private Limited, Stichting Depositary APG Emerging Markets Equity Pool, Avanda Investment Management Pte. Ltd., The Capital Group Funds, Eastspring Investments (Singapore) Limited, FIL Investment Management (Hong Kong) Limited, GIC Private Limited, Goldman Sachs Asset Management (Singapore) Pte. Ltd., M&G Investment Management Limited, NS Partners Ltd and RWC Asset Advisors (US) LLC.
“We are pleased that these world-class investors share our vision of the future and will cornerstone our IPO,” said Henry Soesanto, Chief Executive Officer of Monde Nissin Corporation. “Their commitment is a strong vote of confidence in our company, strategy and talented team. We are excited about the opportunities that lie ahead as we accelerate our growth plans for our meat alternative business Quorn, which is a global player in the transformation of sustainably produced healthier food, and extend our leadership position in the Asia-Pacific Food and Beverage business through continued innovation and constant dialogue with our consumers.”
The offer period for Philippines-based trading participants and retail investors will be from May 19, 2021 to May 25, 2021. Monde Nissin’s Common Shares are expected to begin trading on the Main Board of the PSE on June 1, 2021 under the stock symbol “MONDE”.
As previously announced, the Company intends to use the net proceeds from the primary offer to fund capital expenditures, redeem the Arran Convertible Note and repay loans to commercial banks. A copy of Monde Nissin’s final prospectus is available on the Company’s website at https://mondenissin.com/company-prospectus/.
UBS AG Singapore Branch, Citigroup Global Markets Limited and J.P. Morgan Securities plc are the Joint Global Coordinators and Joint Bookrunners for the proposed offering. BDO Capital & Investment Corporation, BPI Capital Corporation and First Metro Investment Corporation are the Local Lead Underwriters and Joint Bookrunners. Credit Suisse (Singapore) Limited is the Joint International Bookrunner. Macquarie Capital Securities (Singapore) Pte. Limited and Jefferies Singapore Limited are the International Co-Bookrunners. China Bank Capital Corporation, PNB Capital and Investment Corporation and SB Capital Investment Corp. are the Domestic Co-Lead Underwriters.
This communication is not for distribution, directly or indirectly, in or into the United States (including is territories and possessions, any State of the United States and the District of Columbia). This communication is not an offer and does not form a part of any offer of securities for sale in the United States or elsewhere. The securities referenced herein have not been and will not be registered under the United States Securities Act of 1933 (the Securities Act), or with any securities regulatory authority of any state or other jurisdiction of the United States, and may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. No money, securities or other consideration is being solicited by this communication or the information contained herein and, if sent in response to this communication or the information contained herein, will not be accepted.
About Monde Nissin
Monde Nissin Corporation is a global food and beverages company headquartered in the Philippines, with a portfolio of iconic and market leading brands across fast-growing categories, including Lucky Me! noodles, SkyFlakes crackers, Fita crackers, Monde baked goods and Quorn meat alternative products. The Company aspires to improve the well-being of people and the planet, and create sustainable solutions for food security. That aspiration is reflected in our commitment to continuously improve our products to make them more delicious, nutritious, and better for the planet. For more information, please visit www.mondenissin.com.
Quorn Foods is a global market leader in healthy, sustainable protein. Headquartered in Stokesley, North Yorkshire in the United Kingdom, the company offers a wide range of great-tasting products to appeal to the rapidly expanding group of people wanting to reduce their meat consumption. The company employs around 900 people and exports to 15 countries around the world, including Australia, Singapore and the United States. Quorn® is one of the United Kingdom’s top 40 FMCG brands. Quorn Foods Ltd is the reporting group which includes a main trading company, Marlow Foods Ltd. Quorn Foods Ltd encompasses all international operations of Quorn® and Cauldron®. For more information, please visit www.quorn.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210518006232/en/
Sard Verbinnen & Co
Ron Low, Jay Qin and Eve Young