Monde Nissin said in a disclosure to the stock exchange its executive committee approved the acquisition of 820.268 million shares at a subscription price of P1 apiece.Monde Nissin chief executive Henry Soesanto said the acquisition would provide the company exposure to the food service sector, which could be a potential avenue for further growth here and abroad.
FCG said in a separate disclosure the fresh equity from the transaction would be used to finance expansion plans. The Philippine Stock Exchange implemented a one-hour trading halt on FCG’s shares to enable the investors to digest the news.
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