Home Markets Philippines’ Monde Nissin opens 0.14% lower in market debut after $1 bln...

Philippines’ Monde Nissin opens 0.14% lower in market debut after $1 bln IPO

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A janitor wearing a face mask cleans the lobby of the Philippine Stock Exchange amid the coronavirus disease (COVID-19) outbreak, in Taguig City, Metro Manila, Philippines, Sept. 30, 2020. REUTERS/Eloisa Lopez

Shares in Philippine food company Monde Nissin Corp (MONDE.PS) opened 0.14% lower in their market debut on Tuesday, marking a flat start for the country’s largest ever listing after its initial public offering (IPO) was priced at 13.50 pesos apiece.

Monde Nissin, the market leader in the noodles and biscuits segment, raised 48.6 billion pesos in its oversubscribed IPO, which was supported by 11 cornerstone investors including Singapore sovereign wealth fund GIC, Eastspring Investments and Capital Group funds.

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