April 25, 2013

Del Monte eyes dual listing in Philippines and Singapore


Del Monte Pacific Ltd., controlled by Joselito D. Campos Jr., is planning a dual listing in the Singapore and Philippine stock markets. This will make Del Monte the first local firm to be listed in both the Singapore Stock Exchange (SGX-ST) and Philippine Stock Exchange (PSE). In a disclosure to SGX-ST, Del Monte said it submitted to the PSE and SEC an application for a listing by way of introduction.

Aside from Del Monte, PSE-listed tuna and salmon processor Alliance Select Foods International Inc. is planning to conduct a dual listing in the Singapore and Philippine bourses. In 2012, sales of Del Monte climbed 8%t to a record $459.7 M while net profit jumped to $32.1M.