- Fresh produce company Dole, a new company formed by combining Total Produce and Dole Food Company, has announced plans to IPO in New York.

The company announced today that it had launched the roadshow for its initial public offering (IPO) of 26,000,000 ordinary shares pursuant to a registration statement on Form F-1 filed with the US Securities and Exchange Commission (SEC).

The offering consists of 23,539,067 ordinary shares offered by Dole and 2,460,933 ordinary shares to be sold by shareholders of real estate company Castle & Cooke, of which Dole will not receive any proceeds.

The underwriters will have a 30-day option to purchase an additional 3,900,000 ordinary shares from Dole and the Castle & Cooke shareholders at the initial public offering price, less underwriting discounts, and commissions.

The initial public offering price is expected to be between $20 and $23 per share.

Dole said it intends to list its ordinary shares on the New York Stock Exchange under the ticker symbol 'DOLE'.

Goldman Sachs, Deutsche Bank and Davy will act as lead book-running managers for the proposed offering.

BofA Securities, BMO Capital Markets and Rabo Securities will act as book-running managers for the proposed offering. Stephens will act as co-manager for the proposed offering.

The proposed offering will be made only by means of a prospectus filed with the SEC.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective.

At 2:43pm: [LON:TOT] Total Produce PLC share price was 0p at 106p

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