Mission Produce is a leading supplier of avocados, and they announced their IPO on Tuesday 22nd September. This news inspired a lot of talk around the company and its status. They are expecting to launch their IPO and raise $150 Million. They are planning to offer 33% of insider shares that equals 9.4 million shares. The rates are expected to be in the range of $15 to $17 per share. The company will run under the title Mission Produce Inc. AVO in the stock market. They are launching in NASDAQ under the symbol AVO. NASDAQ: AVO at https://www.webull.com/quote/nasdaq-avo is gaining a lot of attention since the announcement of the IPO.
What Is The Mission?
Mission Produce is one of the world’s leading producers and distributors of fresh produce, especially Avocado. This company serves as a wholesale, retail, and foodservice in more than 25 countries. Mission Produce was formed in 1983, and as of 2020, it booked sales worth $887 million in one year’s time span. This company currently has over 8,300 acres of land that produces Avocados. They have a total of 10,000 acres of land in Peru. The remaining 1700 acres in Peru are greenfields. The company is planning to harvest it and start plantations over there in the next few years.
More About It:
The arrival of AVO in NASDAQ was a surprise as it was one of the leading producers in California for a long time, and most citizens didn’t see the IPO coming. But it was well-received. Consumers, as well as investors, seem to be looking forward to the IPO. It has got an overall positive response, and this seems like a good time to invest in NASDAQ: AVO. AVO has some exciting years to come in the near future, and it does not seem dull. If you are someone who is thinking of investing, this might be the right time to invest. Though the economy is a little slow right now, your investment right now will also cost less, and it will give long-term benefits. The return on investment in this stock is expected to be worth the price according to the analysts.
The active book runners behind this deal are J.P. Morgan and Citigroup. AVO is expected to get priced on Wednesday 30th September 2020. After the IPO, there will be outstanding 69,350,922 shares. With that, the company could price its value at around $1.18 billion. Mission Produce Inc. AVO has other competitors in the market like Calavo Growers (NASDAQ: CVGW), Fresh Del Monte Produce (NYSE: FDP), and Westfalia.Nasdaq avo is at an interesting stage in the international market right now. They seem to have a great future planned ahead of them, so this might be the right time to invest right now for better returns in the future. You can check more stocks like NASDAQ: TMUS at https://www.webull.com/quote/nasdaq-tmus before investing.
Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.