FRESH DEL MONTE PRODUCE CO. SPROUTS INITIAL PUBLIC OFFERING

NEW YORK -- In the shadow of a huge balloon shaped like a ripe bunch of bananas, Fresh Del Monte Produce Co. officially launched its initial public offering of shares outside the New York Stock Exchange here.

d of newly issued shares of stock as well as shares sold by Fresh Del Monte shareholders FG Holdings Ltd. and Rabobank Curacao. Before the IPO, FG Holdings owned all the outstanding shares of Fresh Del Monte. Upon completion of the offering, FG Holdings was to own approximately 66.5% of the produce supplier.

Tim Cunniff, director of marketing for Fresh Del Monte Produce Co., Coral Gables, Fla. said Fresh Del Monte's retail customers should not see a change in the company's performance.