Monde Nissin debuts on Philippine stock market
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Summary:
Published June 1, 2021 11:39am
Shares of food maker Monde Nissin Corp. began trading on the Philippine Stock Exchange (PSE) on Tuesday after its completion of an initial public offering (IPO), deemed as the largest in the country’s history.
Monde Nissin’s share price opened lower at P13.48 apiece, slightly behind its IPO price of P13.50 per share.
“I think everyone already discounted this IPO performance of Monde Nissin given it is a huge listing (approximately $1 billion) in a challenging market environment,” Unicapital Securities equity analyst Christopher San Pedro told GMA News Online.
“I expect this to move like a blue chip stock as a medium to long term consumer play,” San Pedro said.
It is currently trading to a high of P13.56 and a low of P13.46.
The company’ ...
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