The Tel Aviv-listed food group Strauss-Elite Ltd is to look for a listing on the London Stock Exchange. The listing, which will be conducted via an international offering of global depositary receipts, representing ordinary shares, will raise capital for continued expansion.
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The company’s primary shareholder Strauss-Elite Holdings will offer up to one-third of the total offering.
The company’s operations include a snacks, confectionery and a coffee division. It has a current market capitalisation of around $1.1bn.
Merrill Lynch & Co and UBS Investment Bank are joint bookunners and JPMorgan Chase & Co is lead manager.
CEO Erez Vigodman said: “Strauss-Elite has a long history as a leading food and beverages company in Israel and coffee company internationally, mainly in rapidly growing markets and we look forward to being listed on the London Stock Exchange as the next logical step in the company’s development.
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By GlobalData“We believe that such a listing will give us greater access to global capital markets and resources, enabling us to continue the company’s growth strategy of making selective acquisitions and forming new ventures to make the company more internationally focused.”
