Israeli chocolate and coffee company Strauss-Elite hopes to tap foreign investors in a bid to raise capital.

According to Reuters, Strauss-Elite yesterday (20 December) told the Tel Aviv Stock Exchange that no decision has been made yet but the food maker needs to raise money to support planned growth.

Israeli business daily Globes said the company was examining an offer on the London Stock Exchange in the first half of 2006 and that officials met with several investment banks to discuss underwriting of the issue.

Strauss-Elite has a reported market value of US$885 million.