$103 million public offering considered by Castle & Cooke

Residential developer Castle & Cooke Homes Inc. of Los Angeles has filed plans with the Securities and Exchange Commission to issue stock and become a publicly held company.

Castle & Cooke, formerly a division of the Dole Inc. agribusiness, plans to raise $103.5 million through the public offering, which will be handled by brokerage houses Merrill Lynch and Goldman Sachs.

Controlled by land magnate David Murdock, 69, Castle & Cooke is the largest developer of homesites in the Bakersfield area,...