Dole sags on $158 mln secondary offering

Dole

04/09/2025 11:35

** Shares of fresh fruits and vegetables producer Dole plc DOLE.N down 6.9% premarket to $13.71 after ~$158 mln secondary offering priced

** Dublin, Ireland-based Dole early Thurs announced ~11.9 mln shares offloaded by Castle & Cooke Holdings and The Murdock Group at $13.25

** Offering priced at 10% discount to stock's last close

** With the sales, Castle & Cooke and Murdock divest their remaining stakes in co, per the SEC filing

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

** Goldman Sachs sole bookrunner for the offering

** Through Weds close, DOLE shares gained ~9% YTD

** 3 analysts rate DOLE "buy" and 1 rates "sell" and 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))