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Del Monte PH delays IPO amid market volatility due to COVID-19 surge

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Parent firm Del Monte Pacific Limited cited 'increased market volatility' in recent weeks due to a spike in coronavirus infections in the Philippines and the region.

territory after the capital region returned to stricter quarantine measures due to the variant’s threat.and Philippine Stock Exchange for its initial public offering, which aims to raise as much as ₱44 billion.to go public. It previously buckled up for an IPO in 2018, but didn’t push through due to then-volatile market conditions.

“The Board remains committed to listing DMPI and continues to believe strongly in the growth and resilience of its business,” Del Monte Pacific Ltd.said, adding it will continue talks with potential investors and strategic partners interested in the offering.

 

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Market volatility delays Del Monte's P44-billion IPOThe massive P44-billion initial public offering (IPO) of processed food maker Del Monte Philippines, Incorporated (DMPI) will be delayed, as areas in the Philippines return to lockdown.
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