Dole plc, a newly created company formed for the combination of Total Produce plc and Dole Food Co. Inc, announced the pricing of its initial public offering of 25 million ordinary shares at $16 per share.
The ordinary shares are being offered by Dole plc for total gross proceeds of $400 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 3.75 million ordinary shares at the initial public offering price.
The shares were expected to begin trading on the New York Stock Exchange on July 30 under ticker symbol “DOLE” and the offering is expected to close on Aug. 3, 2021, subject to customary closing conditions.
Dole plc said it will be one of the world’s largest producers of fresh bananas and pineapples, and a leader in value-added salads and fresh-packed vegetables in the United States. It will also have a growing presence in such categories as berries, avocados and organic produce. It will offer more than 300 products grown and sourced both locally and globally from over 30 countries in various regions.
