Kraft expects $8bn in IPO

Related tags Initial public offering Stock market Kraft foods

Kraft Foods, the US food and beverage giant, said on Wednesday that
it would raise $8bn in its upcoming initial public offering at a
price between $26...

Kraft Foods, the US food and beverage giant, said on Wednesday that it would raise $8bn in its upcoming initial public offering at a price between $26 and $31, the Financial Times reports. In March, Kraft​ said its IPO would raise as much as $5bn but that was substantially raised, according to the company's filing to the Securities and Exchange Commission on Wednesday. The target figure would make Kraft the second-largest US IPO ever and the seventh-largest on a global basis, according to research group Commscan​, the Financial Times continued. The company's market capitalisation would be $49bn, based on all shares at a midpoint price range. Kraft is the largest food and beverage company in the US, and the second-largest in the world after Nestle. The IPO is expected by the end of the second quarter. Philip Morris will control 49.5 per cent of Kraft's class A shares and it will own 100 per cent of the B shares. Source: The Financial Times

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