Published August 4, 2021, 4:51 PM
Del Monte Pacific Limited has decided to postpone the planned P44 billion initial public offering of its subsidiary Del Monte Philippines, Inc. on the Philippine Stock Exchange.
The firm said in a disclosure to the PSE that, its Board of Directors decided to delay the IPO in consultation with its advisors and “in light of increased market volatility.”
“With the return of strict COVID lockdown measures in the Philippines from August 6, the Board believes that it is in the best interests of the Company, its shareholders and potential investors to defer the listing until conditions improve,” Del Monte said.