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Philippines’ IPO could make noodle tycoon a Billionaire

Philippine’s IPO can make noodle food maker tycoon Monde Nissin Corp billionaire.

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Philippine’s IPO can make noodle food maker tycoon Monde Nissin Corp billionaire.

Monde Nissin, a market leader in the manufacture of instant noodles, crackers, and cookies in the Philippines is making a raise of 63 billion pesos ($1.3 billion) through the sale of 3.6 billion common shares at a maximum price of 17.50 pesos apiece.

The company, at the moment, is exporting to 50 countries and is planning to boost its IPO soon. The increased IPO will certainly raise the investment rate with high profits and manufacturing. The IPO values the company that Ang founded in 1980 at $6.4 billion. Ang, 66, who is also the president of Monde Nissin, is the second-largest shareholder, according to the share sale prospectus.

Ang’s Indonesian husband Hoediono Kweefanus, 69 with her collectively owns the company and is the largest shareholder Monde Nissin, the prospectus showed. The family also owns the Khong Guan Biscuit factory in Indonesia.

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