By Toby Sterling

JDE Peet's initial public offering drew strong investor interest as books opened on Tuesday, in an early indication of robust demand for an issue that aims to raise 2.3 billion euros and revive a moribund IPO market.

Books were covered in excess of the full offer size within hours of opening, a bookrunner said, at an indicative price range of 30-32.25 euros per share, valuing the world's No. 2 packaged coffee maker at up to 16 billion euros.

JDE, owner of brands including Peet's Coffee, Douwe Egberts, and Jacobs, said the IPO has attracted investors including George Soros' Quantum Partners and trading on Euronext Amsterdam will start on June 3.

It is one of few large companies willing to brave an IPO market that has been almost completely shut since the coronavirus outbreak spread globally in March and is counting on the resilience of coffee consumption during economic downturns.

The Dutch-based company said in its prospectus that it will sell 23.3 million new shares in the issue, to raise about 700 million euros to pay down debt.

Existing major shareholders Acorn Holdings - controlled by German investor JAB - as well as Mondelez will also each sell up to 25.8 million existing shares in the offer.

Including all primary and secondary sales, and overallotments, shares on offer represent 17% of JDE and will raise around 2.25 billion euros in total.

"We believe that, JDE Peet's is well positioned to be at the forefront of reopening the IPO market," said Olivier Goudet of JAB, who is set to become chairman of JDE Peet's.

The company said it had lined up several "cornerstone" investors to buy 761 million euros' worth of shares, including Soros's Quantum Partners and Palindrome Master funds, Fidelity Management and Research (FMR) and JAB Holding itself.

Its indicative price range implies a market value of 14.9 billion-16.0 billion euros.

With roadshows digital-only due to travel restrictions, the offer period closes on June 2 with final pricing on June 3.

JPMorgan, BNP Paribas and Goldman Sachs are global coordinators for the sale.

($1 = 0.9150 euros)

(Reporting by Toby Sterling; editing by Jason Neely and Susan Fenton)