Mission Produce sets IPO terms, to be valued at up to $1.18 billion

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Mission Produce Inc. set terms Tuesday of its initial public offering, in which the California-based distributor of fresh avocado looks to raise up to $159.38 million. The company is offering 9,375,000 shares in the IPO, which is expected to price between $15 and $17 a share. With 69,350,922 shares outstanding after the IPO, the pricing could value the company at up to $1.18 billion. The stock is expected to list on the Nasdaq under the ticker symbol “AVO.” BofA Securities, J.P. Morgan and Citigroup are the active bookrunners. The company is looking to go public at a time that the Renaissance IPO ETF has run up 61.9% year to date, while the S&P 500 has edged up 1.6%.
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