No IPO plan for Bounty Fresh

Bounty Fresh Group Holdings Inc. is shelving its initial public offering (IPO) plans to focus on strengthening its operations and building resilience in anticipation of a potential rise in future poultry consumption.

- By DEXTER BARRO II

Bounty Fresh President and Chief Executive Officer (CEO) Kenneth Cheng said that there are no IPO plans currently in the pipeline, with the company's intention being to implement "good governance" in its operations.

"Similar to last year, hindi totoo ang tsismis (the rumors are false). So again, there's no plans," Cheng told reporters.

"But then, I cannot say no because I don't know what will happen in the future," he added.

Last year, Cheng said Bounty Fresh held off plans to go public since the company has enough capital to fund its expansion plans.

In 2023, Bloomberg reported that Bounty Agro Ventures Inc., which operates Bounty Fresh, was eyeing an IPO that could raise up to $500 million.

This year, Cheng said Bounty Fresh is focused on making its corporate functions better through investments in both people and processes.