This financial news is bananas.
Dole Plc’s upcoming initial public offering will give the produce giant an expected valuation of $2.1 billion, the company announced at its roadshow on Monday.
The company was formed by combining Total Produce PLC and Dole Food Co., both of which have been in the fresh produce business for more than 150 years.
Dole is known for its canned foods as well as fresh offerings, such as bananas and pineapples. It filed a Form F-1 registration statement with the U.S. Securities and Exchange Commission on July 2.
The Dole IPO plan is 26 million ordinary shares at $20 to $23 per share to be listed on the New York Stock Exchange. The ticker symbol will be DOLE.
The company is the No. 1 fresh produce company by size, with more than 300 products from 30-plus countries that are distributed and marketed in over 80 countries, according to documents filed with the SEC. Dole had pro forma revenue of $9 billion in fiscal year 2020.