Shares in US fruit and vegetable group Dole Foods dipped in morning trade today (23 October) after the company launched an initial public offering of 35.2m shares.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Shares were sold privately at US$12.50 each, below the expected $13-15 range. However, the shares, which began trading on the New York Stock Exchange, dipped further to $12.17 at 12.23pm (ET).
The company, which said proceeds from the IPO would be used to pay down debt.
However, there continues to be concern among investors that the company has a highly leveraged balance sheet.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
