Del Monte Pacific Ltd has revived plans of raising up to $360 million in preferred shares sale which it declined to do last year. Del Monte disclosed on Tuesday to the Philippine Stock Exchange (PSE) that it filed an amended Registration Statement with the Securities and Exchange Commission for the registration of up to 36 million preferred shares which shall be offered at a maximum of $10 per share. The preferred shares are perpetual, cumulative, non-voting, non-participating, non-convertible Series A Preference Shares. Also a listed firm on the main board of the Singapore Exchange (SGX), Del Monte before planned for international offering of $360 million worth of preference shares but cancelled it last January 2015 due to weak global market conditions. The food and beverage firm noted the Series A Preference Shares covered by Shelf Registration may be issued in tranches within a period of three years from the effective date of the RS. Also Read: Del Monte’s rights offer shrinks to $149.9m “In case the Oversubscription Option is partly exercised or not exercised at all during the offer period for the Initial Offer, the Series A Preference Shares under Shelf Registration will be automatically increased by such number of [...]
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