Del Monte Philippines seeks SEC nod to go public
The Board of Directors of Del Monte Pacific Limited (DMPL) announced that its wholly-owned Philippine subsidiary, Del Monte Philippines, Inc. (DMPI), has already filed application documents for a proposed initial public offering of common shares comprising the sale of 20 percent of its issued capital, by way of a secondary offer.
DMPI intends to list the Offer Shares on the Main Board of The Philippine Stock Exchange, Inc. (PSE).
In connection thereto, DMPI has on 5 February 2018 filed for the registration of the Offer Shares with the Securities and Exchange Commission of the Philippines; and applied for the listing of all the issued and outstanding common shares of DMPI, including the Offer Shares, with the PSE.
“The Company plans to use the expected proceeds from the Offering primarily for debt repayment and general corporate purposes,” DMPL said.
BDO Capital & Investment Corporation has been appointed as the Issue Manager, Sole Global Coordinator and Sole Bookrunner for the Offering.