Odyssey Re Holdings Corp

The mega-offering of Philip Morris' Kraft Foods Inc. unit this week will dominate a market for initial public offerings that is showing signs of life after a moribund start of the year. The Kraft IPO, the second-largest ever, is expected to raise as much as $8.4 billion, with 280 million shares offered for trade on the New York Stock Exchange at $27 to $30 each. Philip Morris plans to use proceeds from the sale of the 16% stake in Kraft to pay off debt.

The mega-offering of Philip Morris' Kraft Foods Inc. unit this week will dominate a market for initial public offerings that is showing signs of life after a moribund start of the year. The Kraft IPO, the second-largest ever, is expected to raise as much as $8.4 billion, with 280 million shares offered for trade on the New York Stock Exchange at $27 to $30 each. Philip Morris plans to use proceeds from the sale of the 16% stake in Kraft to pay off debt.