19th Jul 2021 20:02
(Alliance News) - Fresh produce firm Total Produce PLC on Monday said its joint venture company Dole PLC launched the roadshow for its initial public offering in the US.
Dole, a newly created company formed for the combination of Total Produce and Dole Food Co Inc, will offer 26.0 million shares, consisting of 23.5 million shares offered by Dole and 2.5 million shares to be sold by affiliates of Castle & Cooke Inc. In 1995, the real estate operations of Dole Food Co were spun off as the newly reformed company Castle & Cooke.
Dole will not receive any proceeds from the sale of the shares by the Castle & Cooke shareholders.
The initial public offering price is expected to be between USD20.00 and USD23.00 per share. Dole intends to list its shares on the New York Stock Exchange.
Total Produce shares closed flat in London on Monday at 222.00 pence each.
By Evelina Grecenko; [email protected]
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