Deals
JDE Peet’s $2.5 Billion IPO Order Book Covered Within Hours
- Coffee company is offering shares at 30 to 32.35 euros each
- IPO will be largest in Europe since Knorr-Bremse’s 2018 debut
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JDE Peet’s, the coffee business being listed in Amsterdam by JAB Holdings NV, gathered enough investor demand for its 2.25 billion euros ($2.5 billion) initial public offering within three hours of bookbuilding, a signal that Europe’s stalled IPO market is opening up again.
The order books are covered on the total offer size, according to deal terms seen by Bloomberg. The company and some of its shareholders will offer stock at 30 euros to 32.35 euros, JDE Peet’s said in a statement Tuesday. At the planned offer size and price, the listing will be the largest in Europe since manufacturer Knorr-Bremse AG raised 3.85 billion euros in October 2018, according to data compiled by Bloomberg.