Filipino snack maker Monde Nissin is reportedly preparing for an initial public offering with local reports suggesting the offering could happen by the second quarter of 2016.

The Philippine Star, citing a banking source privy to the matter, said the company was looking to do the IPO this year but decided it would be better pushed back as they had to review their financials following recent acquisitions.

In March this year the firm acquired Australian drinks maker Nudie and Menora Foods, another Australian business. Last year, Monde Nissin snapped up Australian dips manufacturer Black Swan out of receivership.

The source said the proceeds of the $300-500m IPO would be used to boost operations in order for it to become a “significant” food and beverage player in Asia Pacific.

Monde Nissin did not respond to requests for comment when approached by just-food.

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