Business Irish

Monday 5 December 2016

Ardagh moves forward with IPO with SEC filing

Published 18/11/2016 | 09:08

Paul Coulson, executive chairman of Ardagh Group
Paul Coulson, executive chairman of Ardagh Group

Glass and metal firm Ardagh has pressed ahead with its plans to float on the stock exchange next year after it filed a registration statement with the Securities and Exchange Commission (SEC) late last night.

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Financier and chairperson Paul Coulson revealed last month that he intended to press the button on the company's long-awaited initial public offering (IPO) as early as March.

On Thursday night the company filed a document with US authorities relating the IPO of its Class A common shares.

Ardagh said the number of shares to be offered and the price range had yet to be decided upon. When listed the Class A shares will appear on the New York Stock Exchange under the symbol "ARD".

The firm produces packaging for some of the world's leading food and drink consumer brands. Operating in 22 countries and employing 23,500 people it generates sales in excess of€7.8 billion.

Citigroup is acting as the lead book-running manager for the IPO.

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