French glass bottle maker Verallia said on Thursday it had begun the process for an initial public offering in Paris.

Verallia, controlled since 2015 by US investment company Apollo, said the French stock market regulator had approved its IPO registration document.

The plans for a listing remain dependent on favourable market conditions, the company has said.

Michel Giannuzzi, Chairman and CEO of Verallia, said: “Verallia can leverage strong assets: glass packaging that benefits from favourable trends and an attractive geographic and end market mix.

"Its high-performance and flexible industrial base offers personalised and premium products, a segment that is growing steadily.

"The consistent improvement of Verallia’s results over the last three years testifies to the relevance of its business model and strategy.

"The IPO will enable the company to increase its visibility among its customers and partners and provide it with greater flexibility to seize future growth opportunities."