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

UBS Singapore AG, Ang’s stabilization agent, told the Philippine Stock Exchange (PSE) that it purchased a total of 259.824 million MONDE shares at an average price of P13.4039 per share from June 1 to 4.

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MONDE traded at a high of P13.56 and a low of P12.68 in its first four days of trading, with net foreign selling of P166 million during the same period.

The MONDE president, who has a 22.73 percent stake in the company, pegged the IPO price at P13.50 or the low end of its projected pricing with a peak of P17.50. She raised P48.6 billion from the IPO.

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/Bilyonaryo.com via AdChoiceTV News

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