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Dole IPO Drops Over 9% During First Day Of Trading

Benzinga
Benzinga
 2021-07-31
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What happened: Shares of the world’s large produce company slid by over 9% on Friday after debuting on the New York Stock Exchange. Dole (NYSE: DOLE) opened for trading at $15, at an implied market value of approximately $1.5 billion, which was below the initial public offering of $16. The stock closed at $14.50 on Friday, giving the company a market valuation of $1.35 billion. “The timing was what it was, the valuation is what it is,” said Chief Executive Officer Rory Byrne in an interview.

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