(Alliance News) - Dole PLC on Friday said its initial public offering of 25.0 million shares will be at a price of USD16.00 per share.
Fresh produce firm Dole is a newly created company formed for the combination of Total Produce PLC and Dole Food Co.
The ordinary shares are being offered by Dole for total gross proceeds of USD400 million, before deducting underwriting discounts and commissions and offering expenses.
In addition, the underwriters have been granted a 30-day option to purchase up to an additional 3.8 million ordinary shares at the initial public offering price, less underwriting discounts and commissions.
The shares are expected to begin trading on the New York Stock Exchange on July 30 and the offering is expected to close on August 3.
Goldman Sachs & Co LLC, Deutsche Bank Securities and Davy are acting as lead book-running managers for the offering. BofA Securities, BMO Capital Markets and Rabo Securities are acting as book-running managers for the offering. Stephens Inc is acting as co-manager for the offering.
By Amrit Sahota; newsroom@alliancenews.com
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