Del Monte Pacific delays IPO of Philippine unit

Singapore

DEL Monte Pacific on Thursday said it would delay the initial public offering (IPO) of its Philippine unit, citing volatile market conditions.

It said in February that it would offer about 559.5 million shares, representing 20 per cent of Del Monte Philippines Inc's (DMPI) current number of ordinary shares. The estimated maximum offering price at the time was 29.88 pesos per DMPI share.