Monde Nissin banks on 'explosive' growth in alternative meat market

  • 📰 rapplerdotcom
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 86%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

After its explosive IPO, Monde Nissin is spending P26.5 billion in the next three years, part of which will be used for its alternative meat business.

Monde Nissin is looking at a 1,000% growth in the alternative meat market in the next 10 years to drive the company's growth, assuring investors that its massive P48.6-billion initial public offering is all worth the hype.listed on the Philippine Stock Exchange following its IPO, which was four times oversubscribed, amid challenging conditions in the equities market brought about by the coronavirus pandemic.

"Ten years from now, based on several studies, this meat alternative protein business will be at least 10% of the total alternative sector. That's 1,000% in the next 10 years and that is explosive growth," Soesanto said. "There is a huge take-up in the United States [for alternative meat] and the potential here is huge as well. The time is right to bring Quorn back…. The market is very ready, the potential in Asia is enormous," said David Nicol, Monde Nissin chief strategy officer.

Soesanto said they are addressing this, with one strategy lowering oil content in their noodles by 70% without altering the taste.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

IPO was successful, but it wasn’t explosive. MONDE sold its offering, but the market price has dropped and most people have just sold into the stab fund.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Krispy Kreme revenue surges ahead of planned stock market listingKrispy Kreme reported a jump in revenue for the first quarter of 2021 as the doughnut chain readies its return to the stock market after five years, according to a filing for an initial public offering (IPO) that was made public on Tuesday (June 1).
Source: ABSCBNNews - 🏆 5. / 83 Read more »

Krispy Kreme revenue surges ahead of planned stock market listingKrispy Kreme reported a jump in revenue for the first quarter of 2021 as the doughnut chain readies its return to the stock market after five years, according to a filing for an initial public offering (IPO) that was made public on Tuesday (June 1).
Source: ANCALERTS - 🏆 26. / 50 Read more »