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Singapore's Del Monte Pacific delays IPO of Philippines unit amid coronavirus surge


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Singapore's Del Monte Pacific delays Philippine unit IPO on virus surge


By Reuters Staff
2 Min Read
(Reuters) - Food and beverages firm Del Monte Pacific said on Wednesday it would delay the initial public offering of its Philippine unit, as the country reels from a surge in coronavirus cases.
Del Monte Philippines Inc in April filed for an offering that could raise up to 44.1 billion Philippine pesos ($888.8 million), making it the second-largest share offering in the Philippines.
But rising cases of the Delta variant of coronavirus cases and corresponding volatility in the Philippine Stock Exchange have led Del Monte Pacific to defer the listing “until conditions improve”.
The Philippines earlier in the week extended a night curfew in capital Manila as the country saw infections exceed 8,000 per day, with the tally on Aug. 1 touching 8,735 infections - their highest since May-end. ....

Sameer Manekar , Shounak Dasgupta , Maju Samuel , Monte Pacific , Thomson Reuters Trust Principles , Philippine Stock Exchange , Del Monte Pacific , Monte Philippines Inc , Thomson Reuters Trust , அதே மனேகர் , ஷ்ௌுனாக் தாஸ்குப்தா , மஜு சாமுவேல் , மான்டே பெஸிஃபிக் , தாம்சன் ராய்ட்டர்ஸ் நம்பிக்கை ப்ரிந்ஸிபல்ஸ் , பிலிப்பைன் ஸ்டாக் பரிமாற்றம் , டெல் மான்டே பெஸிஃபிக் , மான்டே பிலிப்பைன்ஸ் இன்க் , தாம்சன் ராய்ட்டர்ஸ் நம்பிக்கை ,

UPDATE 2-Philippines' Del Monte files for up to $910 mln IPO, country's second largest


Proceeds to pay debts of parent Del Monte Pacific
IPO is set to be launched in the third quarter-source
Philippines gears up for blockbuster year of IPOs (Recasts with details on IPO, quotes)
MANILA, April 28 (Reuters) - Del Monte Philippines Inc filed for an IPO that could raise up to 44.1 billion pesos ($910 million), marking potentially the second-largest share offering in a market that is gearing up for a blockbuster year for listings.
Del Monte’s shareholders Del Monte Pacific and SEA Diner, are seeking to sell up to 804.23 million shares, including an over-allotment option of 15%, it said in a registration statement filed with the corporate regulator on Wednesday. ....

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