Del Monte sells 20 million shares of dollar-denominated offer
MANILA, Philippines – Del Monte Pacific Limited (DMPL) sold 20 million units of its dollar shares following a preference share offering from March 22 to 28.
The company’s Board of Directors announced that its landmark offer, which is the first dollar instrument to be listed in the Philippine Stock Exchange (PSE), was oversubscribed by 33 1/3 %. The units were priced at $10 per share, generating a total amount of $200 million.
The Series A-1 Preference shares were sold and underwritten (for up to $15 million) by the joint lead underwriters, namely:
- BDO Capital and Investment Corporation
- China Bank Capital Corporation
- PNB Capital and Investment Corporation
- RCBC Capital Corporation
BDO Capital also acted as sole issue manager.
The shares have been issued and listed on the PSE since April 7. They will be traded on the PSE under the symbol “DMPA1.”
DMPL returned to profitability in 2016, two years after acquiring their US parent company, Del Monte Foods. They were the first local company to be dual listed in the Singapore and Philippine stock exchanges. – Rappler.com