The Campos family-controlled Del Monte Pacific Ltd. (DELM) remains undecided whether to push through with its initial public offering (IPO).
DELM made this announcement as it denied its own chief financial officer Parag Sachdeva of Del Monte Philippines who declared that the fruit canner’s IPO could take anywhere from 18 to 24 months to materialize, depending on external market conditions.
In a statement to the Philippine Stock Exchange, DELM board led by managing director and CEO Joselito Campos Jr. said management has not yet made up its mind whether to make an initial pubic offering or just refinance the loans of Del Monte Foods Inc.
“Nothing has yet been decided. The Company will make the appropriate announcement once a decision has been made,” said DELM.
DELM cited the surge in COVID for shelving its Del Monte Philipines IPO just two weeks before its listing on August 23. DELM first aborted its IPO in 2018.