Del Monte swings back into the black in Q1

Del Monte and Vinamilk form joint venture

Sustainability Performance

Our Approach   
We believe that conducting business is not just for profit but also for the betterment of people and stewardship of our planet.  Sustainability is one of the strategic pillars in our long-range plan as a testament to our commitment to sustain our future through our sustainability goals.   

Our Board of Directors ultimately oversees Del Monte' s sustainability strategy, which is developed together with our management team.  The Board meets with management to review sustainability objectives and performance, which encompasses environmental, social and governance factors affecting the Group.  Understanding stakeholders' requirement for transparency, we strive to ensure that Del Monte adheres to the highest governance standards in doing business.  For more information regarding our governance principles, please go to our website at    www.delmontepacific.com/corporate-governance.

Our sustainability strategy is developed by a cross-functional team composed of the leadership team and experts in different functional areas.  Each functional team implements and manages the programmes to address the key material priorities of the Group to achieve the sustainability goals.  This brings to life our vision to nourish families, enrich lives, every day.

Del Monte Philippines, known for its pineapple-based products and sauces, said the Securities and Exchange Commission has approved its initial public offering, with the listing on the local bourse scheduled for next month.

The IPO will  raise as much as 44 billion pesos ($874 million) from the maiden share sale, including the over-allotment option.  That makes it the country' s second-largest IPO this year, after Instant noodle and biscuit maker  Monde Nissin that had  raised 55.9 billion pesos from its market debut in June. 

The company confirmed to  Forbes  that the share sale will start from August 9 to 13, and listing on the Philippine Stock Exchange is scheduled on August 23. 

Major shareholders Del Monte Pacific and SEA Diner Holdings plan to sell 699.3 million Del Monte Philippines shares at a maximum price of 54.80 pesos, according to a registration  filed by the company to the Securities and Exchange Commission in Philippines.  The IPO comes with an over-allotment option of 104.9 million shares.   

The Philippines is  seeing an IPO boom this year, with the country' s stock exchange recording over 122 billion pesos in capital raised through IPOs and sale of existing shares in the first half of this year, surpassing the 104 billion pesos reported for the entire 2020.