Ardagh planning for US IPO in mid-2015 following previously unrealized IPO endeavors
May 30, 2014
(Industry Intelligence Inc.)
– Luxembourg-based glass bottle producer Ardagh Group SA has resurrected plans to complete an initial public offering (IPO) in the U.S., this time in mid-2015, following previously unrealized IPO endeavors, Reuters reported on May 28.
The company originally planned to complete an IPO in the third quarter of 2011, but ultimately postponed it. A year later, when it had purchased U.S.-based Anchor Glass Container Corp. for US$880M, the company reaffirmed its interest in a US float.
On the heels of its most recent acquisition in April of glass manufacturer Verallia North America from Saint-Gobain SA, the company has placed itself in a similar position for an IPO, Reuters noted.
Back in March of this year, the company said it had been considering a US$500M pre-IPO convertible bond issuance that would have been privately placed, aiming to list the bonds as equity rather than debt.
The primary source of this article is Reuters, New York, New York, on May 28, 2014. Click here to view the primary source’s version of the article.