Brand affinity plays 'major role' in successful Monde Nissin IPO: PSE president

Jessica Fenol, ABS-CBN News

Posted at Jun 01 2021 11:21 AM | Updated as of Jun 01 2021 11:40 AM

MANILA - Brand affinity likely played a major role in the successful initial public offer of homegrown brand Monde Nissin, Philippine Stock Exchange president and CEO Ramon Monzon said Tuesday during the company's listing ceremony.

Monde Nissin's IPO is the "largest IPO in the history of PSE," Monzon said during the event. 

The food giant is the maker of household staples and iconic Lucky Me! Instant Noodles and Lucky Me! Pancit Canton. SkyFlakes Crackers, Fita, and M.Y. San Grahams are also part of its portfolio.

"For sure brand affinity played a major role" in the success of its IPO where local and over 100 foreign investors have participated, he said. 

Monzon said the IPO's success is also a "vote of confidence" in Monde Nissin's track record which spans 4 decades, its global reach and its strategic direction. 

The IPO, which raised as much as P48.6 billion, is also the largest food and beverage IPO in Southeast Asia, Securities and Exchange Commission Chairman Emilio Garcia said.

Garcia said IPOs have a "positive spillover effect" in local economies. 

Monde Nissin's IPO is also a "testament" to the high confidence of investors in the country's post-pandemic recovery, Finance Secretary Carlos Dominguez said.

"It sends a clear message that the economy will soon regain momentum and bounce back stronger," he said.

Monde Nissin CEO Henry Soesanto said the funding would help the company expand research and development, technology and production capacity and would enable it to continue investments in innovation.

"The new funding will enable us to supercharge our growth," he said.

Monde Nissin was founded in 1979 while Lucky Me! instant noodles was introduced in 1989.

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