Del Monte IPO has achieved a green light from the Securities and Exchange Commission for its P40.7B share sale

It will received its full approval and permit to sell shares on the market for the IPO once it submits certain requirements as mentioned by the SEC

In its statement last Friday July 15, according to the SEC “Among others, (Del Monte Philippines) will still have to submit the final prospectus for the IPO, which should provide more clarity on some information about the company and its offer”

The company is hoping to sell a total of 699.33Million shares with an overallotment option of 104.9Million shares. It will offer these shares at P54.80/share.

The initial plan was to conduct an IPO few years back but did not materials due to certain economic conditions.

It plans to sell majority of the shares or 70% of it to foreign investors, the remaining shares shall be offer to local investors

Offer date will be on August 9-13 and initial listing date will be on August 23, 2021

BDO Capital Investment Corp. and BPI Capital Corp. were commission as joint local lead underwriters and book runners, with First Metro Investment Corp. as the local co-lead underwriter.

87% of Del Monte Philippines is owned by Del Monte Pacific limited with a ticker symbol of DELM, while SEA Diner Holdings Pte Ltd owns 13% a Singapore based investor

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Filinvest Land Inc REIT Approved for Listing

The Philippine Stock Exchange announced the approval on Monday, which would be the third REIT listing after Ayala Land Inc.’s AREIT Inc. and Double Dragon Properties Corp.’s DDMP REIT Inc.

This is comparable in size to AREIT and DDMPR as it would rake in around 14.9 Billion peso after its secondary shares and overallotment share sale is completed

Filinvest REIT is selling up to 1.79 billion shares . This involves 1.63 billion shares owned by Filinvest Land and another 163.42 million shares to cover excess demand.

Latest update as of July 20, 2021, the final offer price would be at 7.0/share

“Please be advised that the final offer price for the REIT initial public offering of Filinvest REIT Corp.’s common shares is P7.00 per common share,” which was signed by FILREIT President and Chief Executive Officer Maricel Brion-Lirio

The SEC has already approved its listings with the below details

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