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Coffee Rush For JDE Peet’s As Fast-Tracks $2.9 Billion IPO

From: finance.yahoo.com

AMSTERDAM (Reuters) – Coffee maker JDE Peet’s plans to make its stock market debut on Friday, sooner than originally planned, after reporting strong investor demand for one Europe’s few large initial public offerings during the coronavirus crisis.

The world’s No. 2 maker of packaged coffee, whose brands include Douwe Egberts, Peet’s Coffee and Jacobs has attracted buyers including George Soros’ Quantum Partners and is set to raise 2.6 billion euros ($2.9 billion) in the IPO.

“We caught a good market window. Investors are sitting on a lot of cash and JDE is exactly what is working in this economic environment,” a person familiar with the deal said on Thursday.

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