Petra Foods launches IPO

Roadshows begin for Singapore IPO of cocoa manufacturer and chocolate vendor Petra Foods.

Lead manager ABN AMRO Rothschild has launched roadshows for an IPO of Petra Foods that could raise up to $103 million pre-greenshoe. Presentations began on Wednesday, with the offering scheduled to price on October 27 ahead of a domestic retail offer running from October 29 to November 3.

The company will offer up to 187.4 million shares of which up to 127.4 million will constitute new shares and 60 million will comprise existing shares. A price range of S$0.79 to S$0.93 has been set.

Pre deal, the Chuang family of Indonesia held 79.4% of the company through a number of vehicles, one of which, McKesson Holdings,...

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