Betty Ang’s Monde Nissin gets SEC go-ahead for equity restructuring

Monde Nissin Corporation, led by bilyonaryo Betty Ang, has received approval from the Securities and Exchange Commission (SEC) for its equity restructuring plan, which is aimed at wiping out its deficit of P7.15 billion as of December 31, 2022.

The restructuring initiative aims to eliminate the deficit in retained earnings, which was primarily attributed to a non-operating non-cash impairment of intangible assets.

Monde Nissin clarified that the equity restructuring would not involve any change in the par value of its shares or necessitate an infusion of additional paid-in capital.

Furthermore, the restructuring will not impact the number of issued, outstanding, or listed shares of the company. The SEC granted its approval on June 9.

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