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Day high here. :)
UPDATE 2-Philippines' Del Monte files for up to $910 mln IPO, country' s second largest
By Neil Jerome Morales, Anshuman Dag
* Offer consists of secondary share sales
* 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&rsquo 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.
Del Monte, the maker of canned fruit-to-tomato sauce has been operating in the Philippines for 95 years, and is also the company behind the S& W brand operating in 30 countries.
Del Monte, the largest fresh pineapple exporter to China, set a maximum offer price of 54.80 pesos apiece.
The Philippines, once a regional laggard in share fundraising, is set to emerge as the top spot for IPOs in Southeast Asia in a recovering economy.
Local IPOs are typically priced way below the maximum price.
At the filing price, it would be the second-largest local IPO after instant noodles and biscuits manufacturer Monde Nissin&rsquo s share sale that could raise up to $1.5 billion in May and is due to list in June.
In 2018, Del Monte shelved a plan to raise up to 13.5 billion pesos due to poor market conditions.
&ldquo The business has been reorganised to allow Del Monte to sell premium fresh pineapples directly to the fast growing China market,&rdquo said one source familiar with the deal, adding that the IPO was likely to be launched in the third quarter.
Monde Nissin is set to launch an IPO worth up to 72.45 billion pesos, putting this on track to be the country&rsquo s largest-ever listing.
Proceeds from Del Monte&rsquo s offering will be used by its parent firm, Del Monte Pacific Limited , to repay some loans.
Credit Suisse and Morgan Stanley are the joint global coordinators on Del Monte&rsquo s IPO, while DBS and CLSA are the joint international bookrunners. BDO Capital and BPI Capital are the joint local lead underwriters and bookrunners. ($1 = 48.4350 Philippine pesos) (Reporting by Neil Jerome Morales and Anshuman Daga Editing by Martin Petty and Ed Davies)
https://www.reuters.com/article/delmonte-ipo-idAFL1N2ML0G8
Del Monte Philippines Files for One of Country&rsquo s Biggest IPOs
By Elffie Chew and Cecilia YapApril 28, 2021,
Del Monte Philippines Inc., best known for its pineapple products, has filed for an initial public offering in Manila that could raise as much as 38.3 billion pesos ($791 million).
The company&rsquo s major shareholders, Del Monte Pacific Ltd. and SEA Diner Holdings Pte., plan to offer 699.3 million shares at a maximum price of 54.80 pesos each, according to the registration statement filed with the Philippine Securities and Exchange Commission on Wednesday. Del Monte Pacific will use the IPO proceeds to pay debt and redeem preferred shares.
At $791 million, Del Monte Philippines&rsquo first-time share sale would be the second-biggest in the Southeast Asian nation after food maker Monde Nissin Corp., which is seeking to raise $1.3 billion, according to data compiled by Bloomberg. These two offerings could easily take the country&rsquo s IPO volume to the highest in at least 12 years. SM Investments Corp.&rsquo s 28.8 billion-peso IPO in 2005 was the biggest so far. more at
https://www.bloomberg.com/news/articles/2021-04-28/del-monte-philippines-files-for-791-million-manila-ipo
Del Monte unit filing for IPO in the Philippines
DEL Monte Pacific announced on Wednesday that its Philippine subsidiary, Del Monte Philippines, has submitted a registration statement to the Philippine Securities and Exchange Commission to propose an initial public offering (IPO) of its common shares.
The food-and-beverage company currently owns 87 per cent of Del Monte Philippines, while the remaining 13 per cent is owned by Sea Diner Holdings.
To meet the minimum public float requirement of 20 per cent, Del Monte Pacific, through its subsidiary Central American Resources, plans to offer up to 15 per cent of its stake in Del Monte Philippines for the IPO. It also intends to retain a majority stake in Del Monte Philippines and remain " significantly invested" in the subsidiary' s long-term success.
Meanwhile, Sea Diner, which also plans to retain a holding post-IPO, is prepared to offer up to 10 per cent of its stake to be floated.
Del Monte Pacific added that it expects an over-allotment option of up to 15 per cent of the total offer shares.
Proceeds from the IPO will be used to reduce gearing and retire some of its preference shares, said Del Monte Pacific.
Del Monte Pacific had requested a trading halt as at 2.08 pm before posting the IPO announcement on the Singapore bourse. The halt was lifted less than half an hour later. The counter then reached an intra-day high of 35.5 cents at 3.06pm, up 1.5 cents or 4.4 per cent from its previous close, and then closed flat at 34 cents on Wednesday.
Del Monte unit filing for IPO in the Philippines
WED, APR 28, 2021 - 4:21 PMDEL Monte Pacific announced on Wednesday that its Philippine subsidiary, Del Monte Philippines, has submitted a registration statement to the Philippine Securities and Exchange Commission to propose an initial public offering (IPO) of its common shares.
The food and beverage company currently owns 87 per cent of Del Monte Philippines, while the remaining 13 per cent is owned by Sea Diner Holdings.
To meet the minimum public float requirement of 20 per cent, Del Monte Pacific, through its subsidiary Central American Resources, plans to offer up to 15 per cent of its stake in Del Monte Philippines for the IPO. It also intends to retain a majority stake in Del Monte Philippines and remain " significantly invested" in the subsidiary' s long-term success.
Meanwhile, Sea Diner, which also plans to retain a holding post-IPO, is prepared to offer up to 10 per cent of its stake to be floated.
Del Monte Pacific added that it expects an over-allotment option of up to 15 per cent of the total offer shares. Proceeds from the IPO will be used to reduce gearing and retire some of its preference shares, said Del Monte Pacific.
https://www.businesstimes.com.sg/companies-markets/del-monte-unit-filing-for-ipo-in-the-philippines
Suddenly today' s gain lost...
chua tio! suddenly a trading hot!
DEL MONTE PACIFIC&rsquo S SUBSIDIARY, DEL MONTE PHILIPPINES, INC, SUBMITS REGISTRATION STATEMENT FOR IPO IN THE PHILIPPINES The Board of Directors of Del Monte Pacific Limited (&ldquo DMPL&rdquo ) announces that its Philippine subsidiary, Del Monte Philippines, Inc (&ldquo DMPI&rdquo ), has submitted a registration statement to the Philippine Securities and Exchange Commission relating to a proposed initial public offering (IPO) of its Common Shares (the &ldquo Offer&rdquo ). DMPL effectively owns 87% of DMPI while SEA Diner Holdings (S) Pte Ltd (&ldquo SEA Diner&rdquo ) owns the balance of 13%. DMPL, through its subsidiary Central American Resources, Inc (&ldquo CARI&rdquo ), and SEA Diner intend to offer up to 15% and up to 10% of their stake in DMPI, respectively, for a combined offering of up to 25% to be floated in the proposed IPO. There is expected to be an over-allotment option of up to 15% of the total Offer shares. The minimum public float requirement in the Philippines is 20%. DMPL will use the proceeds from the IPO to reduce gearing and retire some of its Preference Shares leading to significant interest and preferred dividend savings going forward. DMPL also intends to retain a majority stake in DMPI post IPO and will remain significantly invested in DMPI&rsquo s long term success. SEA Diner will also be retaining a holding in DMPI following its proposed listing. The timing of the Offer, final offer price, final number of Offer Shares, and allocation of the proceeds will depend on, among other things, market conditions, the circumstances surrounding the Offer, and will be subject to securing the necessary regulatory approvals.
Trading halt.....
climb up fib 223.6%
1h conversion 340 must hold
then can continue fib
1h conversion 340 must hold
then can continue fib
the banana tree is still growing, and growing fast ....
Del monte has been doing very well in its results recently probably due to covid
all stay home eat bananas and canned fruits
results never been so good in past decade
looks ripe
all stay home eat bananas and canned fruits
results never been so good in past decade
looks ripe
w3 punch up 345
1h conversion 330 must hold
then continue next fib
if not w4 start
1h conversion 330 must hold
then continue next fib
if not w4 start
SmallSmall ( Date: 27-Apr-2021 15:50) Posted:
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Banana breakout again....
px hit high 330
1h conversion 320
- conversion flat now
- px go below it to 310
- if not able to go above
then very high chance on w4
w4 300
px hit low 310
this must hold then w5 come
1h conversion 320
- conversion flat now
- px go below it to 310
- if not able to go above
then very high chance on w4
w4 300
px hit low 310
this must hold then w5 come
1h conversion 315 hold
w3 continue next fib 335
w3 continue next fib 335
Day high again $0.325.....Tomorrow can see $0.35?
SmallSmall ( Date: 21-Apr-2021 09:19) Posted:
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