Total Produce Share Discussion Threads

[badger8888] 30/7/2021 15:56

NYSE price just now $14.97 on 3.7M shares. Not great :(

[valueye] 30/7/2021 11:20

IPO is today, pricing at $16/share, 25m shares issued, implied market cap of $1.5bn, EV of $2.9bn, implies valuation of 7x LTM EBITDA before synergies, or 6.6x incl. synergies. Approaching deep value territory in my view.

Cut pricing seems to be driven all by technical/sentiment factors rather than fundamentals. It could drop on flotation like Robinhood, but that's not really that relevant for a market swamped by IPOs in the middle of summer.

This could re-rate substantially from here, but I'd expect at least 12 months for this to happen.

Notably, Fresh Del Monte is at 10x, and smaller niche peers Mission Produce and Calavo growers are at 16x and 20x respectively.

Why should market leader like Dole with massive scale advantages, strong brand etc. not stabilise at least in line with peers? Time will tell.

[hammonkp] 30/7/2021 09:34

Implementation of Share Exchange and Dole MergerThe board of Total Produce plc announces that the mandatory share exchange arrangement was implemented on 29 July 2021. As a result of the implementation, Dole plc acquired the entire issued share capital of the Company in exchange for the issue of new shares in Dole plc to the Total Produce Shareholders.Those shareholders who held Total Produce Shares through the Euroclear System or as CREST Depositary Interests should contact their stockbroker or other intermediary for details on their new shareholding in Dole plc. Those shareholders who held certificated shares in the Company will be sent a statement of their new shareholding in Dole plc by Computershare Trust Company, N.A., Dole plc's transfer agent. Any shareholder who does not receive a statement by 12 August 2021 can contact Computershare Trust Company, N.A. at [phone].

[badger8888] 30/7/2021 08:29

DOLE symbol is up on CNBC

[badger8888] 30/7/2021 08:01

Listing confirmed at equivalent of E1.9216 per existing Total P share. Hopefully that will be the floor. That's a long way from the recent high of E2.76

[badger8888] 29/7/2021 20:52

No one will ever be called to account. The news definitely leaked.

[lmulhare] 29/7/2021 18:33

The 8.47% drop on Tuesday 27 July before the announcement was clearly insider trading. It will be interesting to see how long it will take for the person responsible to face prosecution...

[denisoleary] 29/7/2021 18:00

looks like institutions got very greedy as price shafted

[denisoleary] 29/7/2021 16:52

Any update here. Will IPO go ahead.

[badger8888] 29/7/2021 15:07

Valueye, Tks for your input, has the date for the listing been fixed yet?

[badger8888] 29/7/2021 09:58

I am normally a very positive person however just now E1.932 on Euronext Dublin. I won't be surprised if the IPO is pulled. We will have a better day.GLTA

[badger8888] 28/7/2021 16:40

https://www.google.com/amp/s/www.irishtimes.com/business/agribusiness-and-food/dole-ipo-price-cut-20-25-ahead-of-total-produce-merger-1.4632665%3fmode=amp

[badger8888] 28/7/2021 16:15

Well done to anyone who toppled up at €2. Closed €2.10I wonder what the chances of Private Equity (BlackRock) turning up? They could buy it cheaper than they will in 2 years.It seems strange that the proposed listing price is at a P/E way under of that of our competitors. GLTA

[spooky] 28/7/2021 10:37

I sold some yesterday.............nooooooooo. You are much better off not posting something like that. I'm sure you did but...

[battlebus2] 28/7/2021 09:22

Should be the same.

[denisoleary] 28/7/2021 08:43

Are terms still the same for existing Total Produce holders i.e. 7 for 1. Not a good day.

[battlebus2] 28/7/2021 08:24

Can’t understand why they would lower the price.

[badger8888] 28/7/2021 08:14

I didn't see that coming, someone did yesterday!Hopefully we will see a pop when DOLE plc lists, however if the deal is pulled we are back to E1.50. Would someone bit for TP as it stands?

[battlebus2] 28/7/2021 07:56

Tanking due to the lower 17/18 range. Disappointing.

[denisoleary] 27/7/2021 17:42

Any idea why. Is IPO in doubt or what.After getting this far it would be a right and costly mess up

[badger8888] 27/7/2021 17:33

Shocked at today's drop!