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Del Monte Philippines defers IPO on virus worries


BusinessWorld
August 5, 2021 | 12:33 am
Reporter
DEL MONTE Pacific Ltd. (DMPL) on Wednesday said it is deferring the initial public offering (IPO) of its Philippine subsidiary amid heightened market volatility arising from a surge in coronavirus disease 2019 (COVID-19) infections.
The announcement came just as the Securities and Exchange Commission (SEC) said it “considered favorably” the IPO applications of the two real estate investment trusts (REITs) sponsored by Robinsons Land Corp. (RLC) and Megaworld Corp., subject to remaining requirements.
Del Monte Philippines, Inc. (DMPI), a company known for its tomato sauces and specialty health drinks, had aimed to raise as much as P44 billion from its IPO that was scheduled to begin on Aug. 9. It had targeted to list on the Philippine Stock Exchange (PSE) on Aug. 23. ....

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