It was put up with $ 2.2 billion on the Amsterdam Stock Exchange

GAP Holdings, an investment fund supported by the wealthy Rayman family, will raise about two billion euros ($ 2.2 billion) by launching its subsidiary Working in the coffee business.

According to Arabia Net, this offering shows the flexibility of beverage companies during the Corona pandemic crisis, and the emergence of a new player in the market for more than a year.

JDE Peet will raise about 700 million euros from the IPO on the Amsterdam Stock Exchange, the rest by reducing the shares of existing shareholders, according to the company statement released on Tuesday.

While the company did not specify the final size of the offering, it could reach 2 billion euros, according to informed sources told European newspapers and media.

And if this offering reaches this level, it will be the largest in Europe since the launch of Nexi SpA in March 2019 with $ 2.1 billion.

GDE is seeking to use the proceeds of the IPO to make future acquisitions so that it can compete with its progeny and Starbucks, according to Bloomberg.