Dole sags after launching secondary offering

Dole

03/09/2025 22:15

** Shares of fresh fruits and vegetables producer Dole plc DOLE.N down 6.2% to $13.82 in extended trading after secondary offering news

** Dublin, Ireland-based firm commences offering of ~11.9 mln shares to be offloaded by Castle & Cooke Holdings and The Murdock Group

** Castle & Cooke and Murdock would no longer own a stake in DOLE post offering, per the SEC filing

** Co has ~95.1 mln shares outstanding for $1.4 bln market cap

** Goldman Sachs is sole bookrunner for the offering

** DOLE shares on Weds closed up 0.7% at $14.73, up about 9% YTD

** 3 analysts rate DOLE "buy" and 1 rates "sell"; median PT is $18.50, LSEG data reflects

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))