Ardagh IPO Imminent, Likely Valuation Around €5 Billion
20 Feb 2017 --- Glass packing manufacturer, the Ardagh Group, is gearing up for its long-awaited New York Stock Exchange flotation with the stock exchange launch expected in the coming days.
Since it made an initial filing in November 2016, Ardagh, who works with Coca-Cola, Heineken and Nestle, is getting closer to an Initial Public Offering (IPO).
It is understood executive chairman Paul Coulson and company financial advisers have been working with US Securities and Exchange Commission (SEC) to get paperwork ready.
Although this has not been confirmed by the Group, it may be valued at around the €5 billion (US$5.3 billion) mark.
Late last year the Ardagh Group announced that its subsidiary, Ardagh Finance Holdings S.A., filed a registration statement on Form F-1 with the Securities and Exchange Commission (the “SEC”) relating to the proposed initial public offering of its Class A common shares. At the time it said the number of shares to be offered and the price range for the proposed offering had not yet been determined.
Ardagh plans to apply to have the Class A common shares listed on the New York Stock Exchange under the symbol “ARD.”
Ardagh is a global leader in metal and glass packaging solutions, producing packaging for most of the world's leading food, beverage and consumer brands. It operates in 22 countries, employing approximately 23,500 people and has global sales exceeding €7.8 billion.
Based in Luxembourg, the Group was founded in 1932 as the Irish Glass Bottle Company and has gone through a series of acquisitions over the years. It is now considered one of the world’s leading makers of glass bottles and metal containers.
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