THE opening of the $2.1 billion initial public offering for Goodman Fielder today is expected to generate interest among retail investors. Burns Philp will spin-off its Goodman Fielder business through a public offering after last week rejecting a $3.55 billion bid, including debt, tabled by a private equity group led by US investment firms Bain Capital, Goldman Sachs and Australian company Pacific Equity Partners. Burns Philp is placing on the market up to 1.06 billion shares in Goodman Fielder at between $1.85 and $2 each.