Malaysian pet food maker Pet World International’s initial public offering (IPO) on the Singapore Exchange could serve as an exit for homegrown private equity firm COPE Private Equity, DealStreetAsia understands.
COPE PE had invested in Pet World in 2021, according to its website. The firm is currently deploying from COPE IV, which closed in 2018 at $70 million.
The firm has not responded directly to whether it is exiting its investment in Pet World via the IPO, or if it will retain a share in the company post-listing.
However, in response to DealStreetAsia queries, COPE managing director Azam Azman said: “An IPO remains a viable exit route for growth equity investors like COPE. We believe that investors, both institutional and retail, are receptive to well-managed and high-growth businesses, with bonus points if it is a unique asset.”