Ardagh Group Announces Price Per Share For IPO, Begins Trading
Dublin-based packaging company Ardagh Group has announced the price of its initial public offering in the US.
The IPO, filed with the US Securities and Exchange Commission, was originally announced on 7 March.
The 16,200,000 Class A common shares will be priced at $19.00 per share, for a total offering size of $307.8 million.
Ardagh Group said that it has also offered the underwriters a 30-day option to buy up to 2,430,000 Class A common shares at the IPO price, minus the underwriting discount.
The company expects the shares to begin trading on the NYSE on 15 March, under the symbol 'ARD', closing on 20 March, subject to fulfilment or waiver of customary closing conditions.
Citigroup, Deutsche Bank Securities, Goldman Sachs & Co., Barclays, Credit Suisse and J.P. Morgan are the joint book-running managers for the IPO, whereas Davy and Wells Fargo Securities are acting as co-managers.
The Ardagh Group is a global metal- and glass-packaging leader, operating 109 facilities in 22 countries.
At the start of March, Ardagh said that group revenue at its operations grew by 22% last year, to €6.3 billion, as a result of the acquisition of a number of beverage-can assets arising out of the merger of Ball Corp. and Rexam plc. On a pro-forma basis, group revenue was €7.6 billion in 2016, a decrease of 2% on a constant-currency basis.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Karen Henderson. Click subscribe to sign up to ESM: The European Supermarket Magazine.