SINGAPORE: Singapore-based MMI Technologies, a precision engineering company owned by US private equity firm KKR & Co LP, has started meeting with investors for an initial public offering worth between US$200 million (about S$269 million) and US$300 million, IFR reported.
The IPO is aimed for the second half of this year, and if successful will be the biggest in Singapore so far this year, the Wall Street Journal reported last month.
Book building will start in mid-June and the IPO will include the sale of primary and secondary shares, said IFR, a Thomson Reuters publication, citing a source close to the transaction.
KKR, which led a US$700 million private-equity buyout in 2007, owns about 70 per cent of the company through an investment vehicle, according MMI’s website. MMI makes parts for hard disk drives and counts Seagate Technology as a key customer.
