MANILA (Reuters) – Shares in Philippine food company Monde Nissin Corp 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.
(Reporting by Neil Jerome Morales in Manila and Anshuman Daga in Singapore; Editing by Ed Davies)
