th images menu user export search eye clock list list2 arrow-left untitled twitter facebook googleplus instagram cross photos entrep-logo-svg

Want to Own a Part of Del Monte PH, Operator of World’s Largest Pineapple Plantation, For Only Php29.88 a Share?

The PH unit of Del Monte Pacific is planning to launch an IPO worth up to Php16.7 billion
By Lorenzo Kyle Subido |

 

 

Del Monte Philippines Inc. (DMPI), the Philippine subsidiary of multinational food and beverage manufacturer Del Monte Pacific Ltd. (DMPL), is planning to launch an initial public offering (IPO) worth up to Php16.7 billion, according to a disclosure to the Philippine Stock Exchange (PSE) on February 6.

 

In the disclosure, DMPL revealed that it is planning to offer up to 559.5 million shares in its Philippine subsidiary, which is equal to 20 percent of DMPI’s total ordinary shares, at an estimated maximum offer price of Php29.88 per share. While it has not specified a schedule for the IPO, the company revealed that it has filed to register the shares with the Securities and Exchange Commission last February 5.

 

“The Company aims to raise funds from the proposed public offering to partially prepay or repay certain loan facility(ies),” wrote DMPL in the disclosure. “The prepayment of such loan(s) will allow the DMPL Group to deleverage and strengthen its balance sheet.” It added that any balance of the proceeds from the offer will be "used for general corporate purposes."

 

DMPI is one of the country’s most prominent food-and-beverage manufacturing firms, producing a variety of canned fruits, juices and condiments under the Del Monte brand and distributing these to the Philippine market. It operates a 23,000-hectare pineapple plantation in Bukidnon, which it claims is the largest integrated pineapple operation in the world.

 

In a 2017 survey by marketing consultancy Campaign Asia, Del Monte was named the 15th most recognizable brand in the country. The brand recognition has translated to large revenues for the company, as it consistently ranks within the top 100 of BusinessWorld’s annual list of the country’s largest corporations. In 2016, DMPI reported gross revenues of Php27.2 billion, which made it the country’s 66th largest business.

 

Its parent company, DMPL, is jointly listed at the Singapore Exchange (SGX) and the PSE, and it distributes its products across several markets in Asia, Europe and North America. In March 2017, DMPL successfully sold 20 million dollar-denominated preferred shares, the first dollar securities to be listed in the Philippine board.

 

 

*****

 

 

Lorenzo Kyle Subido is a staff writer of Entrepreneur PH

Latest Articles

What’s It Like to Drive A Toyota Rush in Balesin?

The entry-level compact SUV from the Japanese car giant was front and center at this year’s Road...

byPaul John Caña | May 27, 2018 09:00:00

This Company Thinks It Can Help You Get Over Your Smartphone Addiction With Stickers

Imagine a life where you're not checking your phone constantly

byNina Zipkin | May 27, 2018 06:00:00

From Oprah Winfrey to Tim Cook, Leaders Offer Gems of Wisdom to the Class of 2018

Inspiration from luminaries and leaders of the world

byNina Zipkin | May 27, 2018 02:00:00

(Look) Inside a Php2-Million First Birthday Party With a Royal Theme

“I wanted an event that was entertaining and will leave guests in awe,” said the proud dad

byKitty Elicay for SmartParenting.com.ph | May 27, 2018 00:00:00

(LOOK) Who are President Duterte's Cabinet Members That Got Richer in 2017?

At least two department secretaries more than doubled their net worth last year

byPauline Macaraeg | May 26, 2018 10:00:00

In the Journey from Engineer to Entrepreneur, Little Knowledge is Not Always a Bad Thing

The founder of Cebu-based Micab taxi-hailing startup recounts what it took to make the transition

byEddie Ybañez | May 26, 2018 08:00:00

Why Personal Passions and 'Side Projects' Are So Important for Entrepreneurs

Richard Branson loves to kite-ski. David Heinemeier Hansson is a race-car driver

byFiras Kittaneh | May 26, 2018 06:00:00

The Best Way to Win Is to Know When to Quit

Sometimes you have to cut your losses and move on

byDavid Kleinhandler | May 26, 2018 02:00:00

Sports Memorabilia Can Actually Be a Good Investment. Just Ask These Guys

Score big with Hall of Fame Authentics' signed and game-worn sporting items

byEsquire Philippines | May 26, 2018 00:00:00

SEC Approves Php17.55-B IPO of Del Monte Philippines

Operator of world’s largest pineapple plantation needs to clear the Philippine Stock Exchange next

byElyssa Christine Lopez | May 25, 2018 18:00:00

Here’s Why PH’s World Competitiveness Ranking Plunged the Most in Asia

Lower scores in employment and business efficiency were the two biggest factors, according to the...

byLorenzo Kyle Subido | May 25, 2018 16:00:00

How a Tasty Bacon Dish Turned an “Endo” Worker to Owner of a Fast-Growing Chain of Food Stalls

Rica Peñalosa is now franchising her Bacsilog business for Php450,000 per unit

byElyssa Christine Lopez | May 25, 2018 14:00:00
Close