Dole Food begins initial public offering
Advertiser Staff
Dole Food Co. Inc., the fresh produce and canned goods company that traces its beginnings to Hawaiçi, began its public offering of common stock that will trade on the New York Stock Exchange.
The Westlake Village, California-based company is expected to sell 35.7 million of the shares for between $13 and $15 each, with another 5.36 million shares being possibly bought by underwriters.
The company wants to use proceeds from the offering to repay $415 million of debt. It will trade under the ticker DOLE.
Dole was founded in Hawaiçi in 1851 and was taken private by Chairman David Murdock in 2003 for about $2.5 billion.