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May 25, 2018 @ 9:05

SEC greenlights Del Monte PH IPO


The Securities and Exchange Commission has approved a plan by canned fruit and juice drinks manufacturer Del Monte Philippines to raise as much as P17.5 billion from an initial public offering of shares.

Based on its IPO prospectus, DMPI will sell 587.44 million common shares at a maximum price of P29.88 per share.

Net proceeds raised from the offering will be used by DMPI’s parent company, Del Monte Pacific Ltd. (DMPL), to partially prepay or repay certain loan facility or facilities amounting to P6.8 billion.

About P3.5 billion will be used to repay certain payables, while another P6 billion has been alloted to refinance or reacquire certain financial obligations of the DMPL group to reduce its leverage positions.

BDO Capital and Investment Corp. Is the issue manager, sole global coordinator, and sole book runner for the issue.

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