DOLE FOOD COMPANY, INC. has set the terms for its IPO, which is a Re-IPO after going private back in 2003. The offering is expected to raise close to $575 million, up from $500 million originally forecast. The company plans to sell 35.7 million shares in an expected price range of $13.00 to $15.00 per share. Dole will trade on the NYSE but it will have a four-letter ticker of “DOLE.”
The underwriter group will have the option to purchase as many as 5.4 million additional shares to cover overallotments. That group is listed as Goldman Sachs, BofA Merrill Lynch, Deutsche Bank, and Wells Fargo as lead underwriters. Co-managers are listed as J.P.Morgan, Morgan Stanley, BB&T Capital Markets, HSBC, and Scotia Capital.
The company planned to raise about $500 million when it announced its intention to come public back in August. Full details are here in the SEC Filing from Friday evening.
JON C. OGG