Tuesday, September 26, 2023
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Special Pages
    • Pets
    • Tech
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • On the Road
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Cravings
    • Environment & Sustainability
    • Agriculture
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
    • Gallery
      • Photos
      • Videos
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Special Pages
    • Pets
    • Tech
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • On the Road
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Cravings
    • Environment & Sustainability
    • Agriculture
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
    • Gallery
      • Photos
      • Videos
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business Corporate

SEC approves P44-b initial public offering of Del Monte

Jenniffer B. AustriabyJenniffer B. Austria
July 16, 2021, 9:00 pm
in Corporate
Reading Time: 2 mins read
A A
Share on FacebookShare on TwitterShare on Email

The Securities and Exchange Commission said Friday it approved the P44-billion maiden share offering of fruit grower and canner Del Monte Philippines Inc.

The SEC said it approved DMPI’s initial public offering of 699.33 million secondary common shares with an over-allotment option for another 104.899 million shares at a price of up to P54.80 apiece, subject to the company’s compliance with certain remaining requirements.

“DMPI will receive the corresponding order of registration and permit to sell after complying with the conditions set by the SEC,” the corporate regulator said.

The company’s parent, Del Monte Pacific Limited, will eventually receive and use part of the net proceeds for the repayment of loans, redemption of certain preferred shares and general corporate purposes.

Latest submissions to the SEC showed the offering period would be set from Aug. 9 to 13, and the listing of the shares under the main board of the Philippine Stock Exchange scheduled on Aug. 23.

DMPI is a food manufacturer operating four main product segments, including convenience cooking and dessert, healthy beverages and snacks, premium fresh fruit and packaged fruit and beverage export.

Its Del Monte brand offers a line of ketchup, tomato sauce and paste, pasta, spaghetti sauce and packaged pineapple products.

The company is one of the largest fresh pineapple growers in Asia, with a 26,000-hectare plantation in the Bukidnon province.

Aside from being a market leader in the ready-to-drink juices in the country, DMPI is the largest fresh pineapple exporter to China, with a 43.7-percent market share by volume of imported fresh pineapples in 2020. It also exports pineapples to Japan, South Korea and the Middle East.

DMPI engaged Morgan Stanley Asia (Singapore) Pte. and Credit Suisse (Singapore) Limited as joint global coordinators and bookrunners for the offering, while CLSA Limited, DBS Bank Ltd. and Jefferies Singapore Limited will act as joint international bookrunners.

The company also hired BDO Capital and Investment Corp. and BPI Capital Corp. as joint local lead underwriters and bookrunners. First Metro Investment Corp. was tapped as local co-lead underwriter.

DMPI earlier said net income in the fiscal year 2021 ending April climbed 33 percent to P4.6 billion from a year ago on improved sales and lower expenses. DMPI said sales also climbed 8 percent to P34.5 billion.

Nearly two-thirds of DMPI’s sales are in the Philippines, with the balance in the international market.

“During FY2021, we focused on adapting to consumer trends through product innovation and digital marketing, while, at the same time, strengthening our operations and maximizing efficiencies,” DMPI chief executive Joselito Campos Jr. said.

DMPI also saw a 37-percent increase in pineapple exports to P5.85 billion in April from P4.2 billion a year ago, according to analytics and consulting company GlobalData.

Global Data said that DMCI’s pineapple exports to China reached 182 million kilograms in 2020, the biggest growth driver in the North Asian markets. China’s import of fresh pineapples from the Philippines grew at a compounded average growth rate of 18 percent from 2015 to 2020.

GlobalData, an analytics and consulting company, listed DMPI as the largest fresh pineapple exporter to China, accounting for 53 percent of the market in 2020.

Tags: Del Monte Pacific LimitedDel Monte PhilippinesPhilippine Stock ExchangeSecurities and Exchange Commission
ADVERTISEMENT
Jenniffer B. Austria

Jenniffer B. Austria

Related Posts

Fernando Zobel de Ayala returns as AC Health chairman

byManila Standard Business
September 25, 2023, 8:45 pm
0
8
Bavarian village opens way for huge BMW battery factory in Germany

Fernando Zobel de Ayala continues to increase his phased return to senior positions of governance in the Ayala Group—this time...

Read more

Lucio Tan, wife relinquish PNB directorships

byJenniffer B. Austria
September 24, 2023, 9:20 pm
0
8
Lucio Tan in stable condition at hospital

Tycoon Lucio Tan and wife Carmen relinquished their directorships in Philippine National Bank (PNB) as part of the bank’s commitment...

Read more

Healthcare company recognized for patient-centered and employee development programs

byManila Standard
September 23, 2023, 7:40 pm
0
8
Philippines’ top truck brand beefs up presence in Cavite

Takeda Philippines Healthcare, In. (Takeda), a leading pharmaceutical company committed to create better health for people and a brighter future...

Read more

Maynilad assures customers of enough supply this year, begins water recycling

byRoderick T. dela Cruz
September 23, 2023, 2:33 pm
0
8
Maynilad assures customers of enough supply this year, begins water recycling

Maynilad Water Services Inc. (Maynilad) assured customers of adequate supply in the west concession area until the end of the...

Read more

Monde Nissin, Concepcion tap new executives

byJenniffer B. Austria
September 22, 2023, 9:00 pm
0
8
Concepcion reported P19.3-m income in Q3

Appliance maker Concepcion Industrial Corp. (CIC) and food manufacturer Monde Nissin Corp. on Friday announced new appointments to beef up...

Read more

Aboitiz Equity raises P17.45b from fixed-rate bond sale to buy Coca-Cola bottler stake

byJenniffer B. Austria
September 21, 2023, 9:15 pm
0
8
ABOITIZ EQUITY VENTURES: Notice of Special Meeting of Stockholders

Conglomerate Aboitiz Equity Ventures Inc. (AEV) said Thursday it raised P17.45 billion from the issuance of fixed-rate bonds. AEV said...

Read more
ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Pets
  • Tech
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Cravings
  • Environment & Sustainability
  • Agriculture
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Gallery
    • Photos
    • Videos
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App