<article>Precision-engineering firm <a href="http://www.mmi.com.sg/" target="_blank">MMI International</a>, owned by US-based private equity firm<a href="http://www.kkr.com/" target="_blank"> KKR and Co</a> is attempting to list in Singapore, and has initiated talks with banks, according to an executive familiar with the development. This is KKR’s third attempt to take the company public.</article>

Precision-engineering firm <a href="http://www.mmi.com.sg/" target="_blank">MMI International</a>, owned by US-based private equity firm<a href="http://www.kkr.com/" target="_blank"> KKR and Co</a> is attempting to list in Singapore, and has initiated talks with banks, according to an executive familiar with the development. This is KKR’s third attempt to take the company public.
KKR had pulled out from a $786 million flotation of MMI International in 2011, and subsequently deferred another plan to list the company in the following year (2012) due to weak market conditions. In 2012, it had aimed to raise between $400 million to $500 million from its Singapore listing.
Stabilisation of the stock market and a slew of successful PE exits in the region is making the company take another look at its dormant IPO plans.
KKR too is learnt to have met banks last week on MMI International’s proposed listing. The US-headquartered private equity firm had bought out MMI, which specialises in electrical and mechanical parts for computer hard disks, in 2007 and took the company private, in a deal worth S$1.01 billion. At that time, the company had revenues of $550 million.
MMI International had been listed on the Singapore exchange from 1997 to 2007.
Asked specifically on plans for listing MMI International, the KKR spokesperson said the PE firm does not comment on ‘market speculation’.
At this stage it is not known what percentage stake KKR will divest and the timing of the proposed listing has not been confirmed.
MMI has operations in Singapore, Thailand, Malaysia, Thailand and the US. Under KKR’s ownership it has made several acquisitions including that of Metalform (renamed to<a href="http://www.mmiprecision.com/" target="_blank"> MMI Precision Forming</a>),<a href="http://www.precisionmag.com/" target="_blank"> Precision Magnetics</a> and <a href="http://www.intriplex.com/" target="_blank">IntriPlex Technologies</a> based in US and Thailand.

KKR plans to revive listing for MMI

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

KKR plans to revive listing for MMI

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief