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Metro Manila (CNN Philippines, April 29) Del Monte Philippines Inc. is giving another try to its initial public offering, which could raise the firm up to ₱44 billion, its parent company confirmed.
Del Monte Pacific Limited announced to the local bourse on Thursday that its local subsidiary has filed a registration statement to the Securities and Exchange Commission on its proposed IPO.
The food and beverage company hopes to sell 699.33 million secondary shares along with an over-allotment option of up to 104.9 million shares, its preliminary prospectus revealed. The shares will be sold up to ₱54.80 apiece.
DMPI initially geared up for an IPO in 2018 but shelved its plans at the time, attributing the move to then-volatile market conditions.
Del Monte Philippines revives listing plan, files for $907m IPO dealstreetasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dealstreetasia.com Daily Mail and Mail on Sunday newspapers.
BusinessWorld
December 11, 2020 | 7:50 pm
DEL MONTE Pacific Ltd. (DMPL) said attributable net profit was $21.9 million in the three months to October, turning around from a year-earlier loss of $37.35 million, following improved sales in the Philippines and the US.
In a disclosure on Friday, the food manufacturer said its sales during the second quarter rose 12% year on year to $623.5 million due to better figures in the United States (US) and the Philippines.
The company’s fiscal year bands in April, and the three months to October represent its second quarter.
US subsidiary Del Monte Foods, Inc. (DMFI) posted sales growth of 13% to $446.7 million due to stronger demand in the branded retail segment during the pandemic.