Betty Ang coughs out only P191M to keep Monde's price stable in 2nd week as investors drove food giant's stock higher
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Betty Ang coughs out only P191M to keep Monde’s price stable in 2nd week as investors drove food giant’s stock higher

Bilyonaryo Betty Ang spent only P191 million for market stabilization in Monde Nissin’s second week as investors stocked up on the food giant’s stock.

Philippine noodle giant Monde Nissin opens lower on debut

In a report by UBS AG Singapore, Monde bought 14.224 million of its shares at an average price of P13.4309 in the second week of trading since its market debut on June 1.

Betty Ang spends P3.5B to keep Monde Nissin from falling too far below IPO price in opening week

These purchases are meant to stabilize the market for Monde and prevent it from falling too far from its initial public offering price of P13.50.

Food wars: Gokongweis beefing up URC’s product line ahead of rival Betty Ang’s Monde Nissin IPO

Monde’s market stabilization was limited to three days (June 7 to 9) as investors drove the noodle and biscuit behemoth’s stock price to a high of P14.16 last week.

Betty Ang’s Monde Nissin is 16th largest PSE stock, 6 spots behind Gokongwei’s URC

This is why Monde only spent P191 million or just a fraction of the P3.5 billion it burned for market stabilization in Monde’s first week of trading.

 

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