graphic
News > Companies
Del Monte shares debut
February 5, 1999: 12:22 p.m. ET

Fruit and vegetable processor goes public to a lukewarm reception
graphic
graphic graphic
graphic
NEW YORK (CNNfn) - Shares of Del Monte Foods Co., the foods and juices processor, made their public debut Friday alongside a handful of other initial public offerings, but Wall Street barely blinked an eye.
     The San Francisco-based company's stock was trading at around 15-11/16 on the New York Stock Exchange, up just fractionally from its offering price of around $15 a share.
     Analysts had expected a lukewarm reception for the company, which had postponed its IPO in 1998. This offer was led by Morgan Stanley.
     Analysts said the nature of the business is slow-growing and wouldn't attract the momentum players who have driven recent technology and Internet IPOs to lofty levels.
     Del Monte had 1997 revenue of $1.4 billion.
     Among the other companies that went public Friday are: Delphi Automotive Systems Corp. (DPH), Modern Media Poppe Tyson (MMPT), Pacific Internet (PCNTF), Corinthian Colleges (COCO) and MicroFinancial (MFI).Back to top
     -- from staff and wire reports

  RELATED STORIES

Del Monte buys into Europe - Jan. 14, 1999

  RELATED SITES

Del Monte


Note: Pages will open in a new browser window
External sites are not endorsed by CNNmoney




graphic


Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.