Calbee plans IPO to raise funds for overseas push

Japanese snack food maker Calbee Inc aims to list on the Tokyo Stock Exchange in March to raise funds to help it expand overseas, the Nikkei business daily reported on Tuesday.

The bourse is expected to approve the plan as early as the end of February and Daiwa Securities is expected to underwrite the initial public offering which is likely to raise at least several billion yen, the Nikkei said.

A Calbee spokesman declined to confirm the details of the report, but said the firm has been looking into becoming a public company for about two years.