Del Monte plans to list shares on PSE

Posted at 05/28/13 6:01 PM

MANILA, Philippines - Del Monte Pacific Ltd. is planning to list its shares on the Philippine Stock Exchange next month.

In a disclosure to the Singapore Stock Exchange, Del Monte said the PSE has given its approval in principle for the listing of the company's shares, pending submission of permits from the Securities and Exchange Commission and introductory documents, as well as compliance with the 10% minimum public ownership requirement.

"Subject to the fulfillment by the company of the conditions to the SEC approval in principle, and the approval by the PSE of the PSE listing, the company expects to post the introductory document for the PSE Listing on the website of the PSE on or before
Wednesday, 29 May 2013, and for trading of the shares to commence on the PSE on Monday, 10 June 2013," the fruit grower said.

Last week, the SEC said it has approved the listing of Del Monte by way of introduction or without public offering.

The company owns the Del Monte brand for processed products in the Philippines. It manufactures canned pineapple juice and juice drinks, tomato sauce, spaghetti sauce and tomato ketchup.

Its subsidiary Del Monte Philippines owns a 23,000-hectare pineapple plantation in Mindanao, said to be the world's largest fully integrated pineapple operation.