Coffee IPO Set to Be Europe’s Biggest Since March 2019
- JDE Peet’s to raise $764 million; holders to cut stakes
- Amsterdam stock-market listing could total $2.2 billion
JAB Holdings NV, the investment fund backed by the billionaire Reimann family, plans to raise as much as 2 billion euros ($2.2 billion) by listing its coffee business, showing that the resilience of the beverage during the coronavirus pandemic could end up driving Europe’s biggest stock-market debut in more than a year.
About 700 million euros will come from an initial public offering of JDE Peet’s in Amsterdam, and the rest from shareholders reducing their stakes, according to a statement Tuesday. While the company didn’t specify the total size, it could reach 2 billion euros, people familiar with the matter said, which would make it the biggest IPO on a European exchange since payments company Nexi SpA’s 2.1 billion-euro sale in March 2019.