Kraft plans $8.7bn flotation plan
Kraft Foods, which owns the Maxwell House, Philadelphia and Dairylea brands, is planning a $8.7bn (£6.07bn) flotation on the New York Stock Exchange.
The company, which is owned by tobacco giant Philip Morris, has filed an application with the Securities and Exchange Commission, setting out plans to sell 280m shares at $26-$31 (£18.14-£21.62) each.
The flotation will be the second biggest in Wall Street's history -- AT&T raised $10.6bn (£7.39bn) in an IPO in April last year.
Philip Morris will retain about 50% of Kraft shares after the IPO, which the company hopes to complete by the end of the second quarter, according to reports.
Kraft is the second-largest food company in the world, behind Nestle. Its UK adspend was £30.69m in 2000.
Latest jobs Jobs web feed
- Vice President Marketing Communications Direct Recruitment £75,000 - £79,000, London
- Account Director - Integrated - [Digital / Promotions] - Dynamic agency! to £49k Fill Recruitment Ltd £45k - £49k + superb bonus & benefits, Central London
- Account Executive Adam Recruitment £18000 - £23000 per annum + Bonus + Benefits, Liverpool
- Marketing Executive Adam Recruitment £20000 - £25000 per annum + Benefits, Manchester
- Search Marketing Executive Adam Recruitment £20000 - £24000 per annum + Excellent Benefits, Manchester
- Lead Designer (Print, Agency, Conceptual, Typography, ATL, BTL) Creative Recruitment £35000 - £50000 per annum, London