How Much is the Lucky Me! Empire Worth?

It's planning a stock market debut, Bloomberg reports.
Photo/s: shutterstock

The maker of Lucky Me! instant noodles is planning an initial public offering worth $1 billion (P48 billion), Bloomberg reported, providing a rare glimpse into the value of the company that produces a Filipino food staple.

How much Lucky Me! do Filipinos consume? It's eaten round the clock either as a replacement for rice or as a rice viand. It's a mainstay in disaster relief bags and ayuda boxes.

Its parent, Monde Nissin, has a wider business that includes subsidiary MY San, the maker of SkyFlakes and Fita crackers, as well as Mama Sita's recipe sauces and popular meat substitue Quorn.

MORE ON THE ECONOMY:

Cryptocurrency Dogecoin Surges, Trends after Elon Musk Tweet

How Much Spending Was Lost to Quarantines? Think iPhone 12, K-BBQ

Deliberations on the IPO are ongoing and Monde Nissin could decide not to proceed, Bloomberg reported, citing sources. Should it push through, the $1 billion stock market debut would be the Philippines' biggest.

Continue reading below ↓

In Silicon Valley, a $1 billion valuation is the threshold for a startup to be considered a "unicorn." Companies that passed this include Grab and TikTok parent ByteDance. Converted to pesos, Monde Nissin's $1 billion IPO price could buy four billion packs of Lucky Me! pancit canton calamansi at P11.75 each.

Why did Lucky Me! get so big? Unlike its rivals, Lucky Me! has tapped big-name endorsers and influencers and embraced emerging platforms such as TikTok.

Continue reading below ↓
Recommended Videos

It also markets the instant noodle as a springboard for recipes and embraced Filipinos' love for all things Korean.

Continue reading below ↓

Latest Headlines
Recent News