The Philippine grocer Monde Nissin Corp. is considering in Manila, according to people with information, an initial public offer which could raises up to $1 billion.
The best-selling Fortunate Me is Monde Nissin! Quorn in the U.K. addressed proposals to launch the share selling in Philippines with possible advisors and instant noodles, the people added. As soon as this year, one of the people said that the organization aimed at a list.
The deliberations on the potential agreement are at the early stage because, as the people said, the business does not want to list, because information is confidential. The company is not willing to define itself. A Monde Nissin official refused to comment.
The Makati-based company will be included in a listing with National Grid Corp. of the Philippines, which also wants a $1 billion IPO from Southeast Asia. Both revenues, if material, will eclipse the first-time sales of $621,1 million in 2013 by Robinsons Retail Holding Inc. — the highest in the country to date, according to Bloomberg reports.
According to its website, Monde Nissin, which also markets cookies and baked products, sells to 40 countries all over the world. In 2015, it bought 550 million pounds ($751 million) from Quorn Foods Ltd.