Del Monte IPO

Del Monte (DMPL) stock lower on first trading day

Food and beverage maker Del Monte Pacific Ltd., owner of the Del Monte and Today’s brands of pineapple, tomato and mixed-fruit products, started trading on the Philippine Stock Exchange (PSE) today and closed at P27.20, down 8.72% from its initial listing price of P29.80.

DMPL shares hit an intra-day high of P30.00 and a low of P26.55 before closing at P27.20 on its first trading day.

The company got approval from the PSE to offer its shares to the public but not through the traditional way of Initial Public Offering but through the alternative Way of Introduction.

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