The Philippine Stock Exchange (PSE) on Friday, April 23, approved the initial public offering (IPO) of Monde Nissin, as well as the follow-on offering (FOO) of AC Energy Corporation (ACEN).

Monde Nissin Corporation will be offering 3.6 billion primary shares and up to 540 million overallotment option shares at a price of up to P17.50 per share. 

The final offer price will be determined on May 18.

The offer period of Monde Nissin is scheduled on May 24 to 28, while its tentative listing date is on June 7.

Ten percent of Monde Nissin’s firm offer shares will be reserved for local small investors, who may subscribe to the IPO through the PSE EASy website.

An IPO is the process of offering shares of a private company to the public. A public share issuance allows a company to raise capital from public investors.

Meanwhile, ACEN plans to raise as much as P16.48 billion through its FOO.

Shares will be sold at a price of up to P8.20 per share from May 3 to 7, and will be listed on May 14.

Last January, ACEN conducted a stock rights offering, where it raised over P5 billion.

An FOO is an issuance of shares of a company that has already done an IPO.

The Philippine Stock Exchange Index dipped by 0.58% on Friday to 6,378 on weak investor sentiment. – Rappler.com