Private equity shop Kohlberg Kravis Roberts & Co. is planning to exit its investment in precision engineering company MMI Holdings through an initial public offering on the Singapore exchange, Reuters reported. The IPO could raise more than 1 billion Singapore dollars ($770 million). KKR took the company private in 2007 for 1.01 billion Singapore dollars.
(Reuters) – Private equity group KKR (KKR.N) plans to exit MMI Holdings through a Singapore stock market listing, which could raise more than S$1 billion ($770 million), sources with direct knowledge of the matter told Reuters on Friday.
Kohlberg Kravis Roberts & Co has hired Deutsche Bank (DBKGn.DE), Macquarie Group (MQG.AX) and UBS AG (UBSN.VX) to manage the sale, the sources added.
KKR took the company private in 2007 for S$1.01 billion. MMI is a precision engineering firm which specialises in electrical and mechanical parts for computer hard disks.