Dole shares priced at $12.50 in intial public offering
Dole Food Co.’s stock will start trading on the New York Stock Exchange tomorrow after completing an initial public offering today, according to Bloomberg News.
The news service reported Dole sold 35.7 million shares at $12.50, or below the $13 to $15 a share that had been forecast for the offering.
The Westlake, California-based company is the world’s largest producer of fresh fruit and vegetables and traces its roots to Hawaiçi. It raised $446 million through the offering that will be used to pay down debt, Bloomberg said.