China has laid claim to nearly all of the South China Sea and has built numerous military outposts on small islands and atolls, angering other countries with competing claims to the waters.
The maker of the Philippines' best-selling instant noodle brand Lucky Me! opened down 0.15 percent at 13.48 pesos after being offered at 13.50 pesos in a floatation that raised 48.6 billion pesos.
The Southeast Asian nation was at risk of returning to a Financial Action Task Force "grey list" which could delay foreign investment and make remittances from millions of Filipinos overseas.
Consistent with its foreign policy, the state shall extend cooperation in transnational investigations and prosecutions of persons involved in money laundering activities wherever committed.