JDE Peet's Brings Forward Hot Coffee IPO Due To Strong Demand
Strong investor interest has prompted JDE Peet's, the world's No. 2 maker of packaged coffee, to bring forward to Friday its initial public offering, the company said in a statement.
JDE, one of the few large companies to brave an IPO during the coronavirus pandemic, has attracted investors including George Soros' Quantum Partners. The company aims to raise €2.3 billion ($2.5 billion).
Shares will start trading on the Amsterdam stock exchange on 29 May instead of 3 June, JDE, the owner of brands such as Peet's Coffee, Douwe Egberts, and Jacobs, said on Thursday.
"In light of the strong response by investors to the offer, the closing of the offer is being brought forward," it added in the statement.
Books were covered in excess of the full offer size within hours of opening at an indicative price range of €30 to €32.25 per share, valuing the company at up to €16 billion ($17.5 billion).
An exact price and number of shares will be announced on Friday before listing on the Euronext Amsterdam, the company said.