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Monde Nissin company has disclosed that it intends to invest in Figaro Coffee (PSE: FCG) buy acquiring 15% stake in the company at 1 peso per share.

Below is the details of PSE Edge disclosure.

Monde Nissin Corporation will be releasing to the public the attached statement titled “Monde Nissin to acquire 15% stake in Figaro Coffee Group”.

“The Executive Committee of Monde Nissin Corporation (PSE stock symbol: MONDE) has approved the acquisition of a 15% stake in Figaro Coffee Group Inc. (“FCG”) for Php 820.3 mn, which translates to Php 1.00 per share. The transaction shall consist in the subscription to primary shares of FCG. Proceeds of the subscription shall be used by FCG to finance its expansion plans.

FCG wholly-owns Figaro Coffee Systems, Inc. (“FCSI”), through which it operates and/or franchises a network of restaurants. These include Figaro Coffee, a coffee shop with domestic and international branches; Angel’s Pizza, a pizza store chain; Tien Ma’s, a Taiwanese cuisine restaurant; The Figaro Group (TFG) Express outlet, a multi-brand kiosk selling the top products of FCSI’s other restaurants; and Café Portofino, an outlet which primarily serves beverages and bakery items.”

Source: https://edge.pse.com.ph/openDiscViewer.do?edge_no=56d0fa50cfdd1cce9e4dc6f6c9b65995

FCG stock price have been surging from the last week trading, yesterday prices closed at 0.89 pesos per share