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Dole merges with Total Produce, announces IPO

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July 30, 2021

Dole PLC, a newly created company formed from the combination of Total Produce PLC, an Ireland-based produce company, and Dole Food Co. Inc., announced the pricing of its initial public offering of 25 million ordinary shares at a price of $16 per share, according to a press release.

The ordinary shares are being offered by Dole PLC for total gross proceeds of $400 million, before deducting underwriting discounts and commissions and offering expenses.

In addition, the underwriters have been granted a 30-day option to purchase up to an additional 3.75 million ordinary shares at the initial public offering price, less underwriting discounts and commissions.

The shares are expected to begin trading on the New York Stock Exchange today under the ticker symbol "DOLE" and the offering is expected to close on Aug. 3, 2021, subject to customary closing conditions.

Dole PLC will produce fresh bananas, pineapples, salads, vegetables, berries, avocados and organic produce.