Dole Food Co. initiates initial public offering

by Staff
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WESTLAKE, VILLAGE, CALIF. — Dole Food Company, Inc. has registered with the U.S. Securities and Exchange Commission to conduct an initial public offering (I.P.O.) of shares of its common stock. The offered shares will include newly issued shares as well as shares to be sold by the sole current stockholder of the company, David H. Murdock, the company’s current chairman who took it private in 2003.

Dole said it expects to use the proceeds from the I.P.O. to pay down debt and invest in the company. Dole also plans to apply to list its stock on The New York Stock Exchange under the ticker symbol "DOLE."

Goldman Sachs & Co., BofA Merrill Lynch, Deutsche Bank Securities and Wells Fargo Securities will act as the joint managers of the I.P.O.

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