Dole Food Co. is to raise up to US$500m in an initial public offering of common stock.


In a preliminary prospectus filed with the US Securities and Exchange Commission, the company said that Goldman Sachs, Merrill Lynch, Deutsche Bank and Wells Fargo are underwriting the IPO.


The company, one of the world’s largest producers of fresh fruits and vegetables, will list its common stock on the New York Stock Exchange.


The filing did not disclose how many shares the company planned to sell or the initial public offering price per share.


Earlier this month, Dole emphasised its commitment to pay down debt as the US fruit company unveiled a US$68m plan to sell some of its operating properties in Latin America.