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Philippines' Monde Nissin aims to cash in on plant-based meat boom

Shares open lower on first day of trading following last week's $1bn IPO

Monde Nissin, maker of the Lucky Me! instant noodle brand, has scored the Philippines' biggest ever IPO.   © AFP/Jiji

MANILA -- Philippine food juggernaut Monde Nissin debuted on the stock exchange on Tuesday after a record initial public offering that gave the company additional capital to expand its key noodle and plant-based meat segments.

The company, which makes the Philippines' bestselling instant noodle line, Lucky Me!, and owns U.K. meat-substitute brand Quorn, raised 48.6 billion pesos ($1 billion) in the country's biggest-ever IPO last month.

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