DEL MONTE PACIFIC LIMITED
(Incorporated in the British Virgin Islands)
DEL MONTE PHILIPPINES, INC. DELAYS ITS INITIAL PUBLIC OFFERING
DUE TO VOLATILE MARKET CONDITIONS
- Listing delayed due to adverse market conditions
- Board remains committed to listing DMPI
- Growth prospects and resilience of the business unchanged
In light of increased market volatility, the Board of Directors of Del Monte Pacific Limited (the "Company"), in consultation with its advisors, has decided to delay the initial public offering of its subsidiary, Del Monte Philippines, Inc. ("DMPI"), on the Philippine Stock Exchange ("PSE").
Amidst a surge of COVID-19 cases in the Philippines and in the region, the PSE has been highly volatile in recent weeks, and the Board believes that it is in the best interests of the Company, its shareholders and potential investors to defer the listing until conditions improve.
The Board remains committed to listing DMPI and continues to believe strongly in the growth and resilience of its business. During this time, the Company will continue discussions with potential investors and strategic partners that have expressed interest during the IPO process.
The Company will make further announcements as appropriate.
BY ORDER OF THE BOARD
Antonio E. S. Ungson
4 August 2021
Del Monte Pacific Limited published this content on 04 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2021 00:05:04 UTC.