Allen & Overy has advised Philippine food maker Monde Nissin Corp on its 48.6-billion-peso ($1 billion) initial public offering, the country's largest-ever listing, with Milbank advising the joint global coordinators.

It also marked the largest-ever food and beverage IPO in Southeast Asia and was the region’s second-largest this year after the $1.8 billion IPO of Thailand's PTT Oil and Retail Business.

According to Reuters, the IPO comes ahead of planned listings of real estate investment trusts and National Grid Corp of the Philippines. These will take the country, a historical laggard in IPOs, to the top regional spot this year, Reuters added.

The A&O team on the deal was led by Singapore partner Alexander Stathopoulos and Hong Kong counsel Giancarlo B. Sambalido. They were supported by London partner Michael Bloch and Singapore partner Alun Evans.

The Milbank team was led by partners Jim Grandolfo and Paul Pery.


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