French container glassmaker Verallia set an indicative price range of between €26.50 and €29.50 per share as it kicked off its initial public offering (IPO) in Paris.
Verallia said the initial size of the global offering for the sale of 34.4 million shares would raise around €911 million euros based on the low end of the indicative range.
The final pricing of the offering is expected on October 3.
Verallia, the world’s third largest maker of glass bottles and jars, supplies containers to consumer brands such as Dom Perignon champagne and chocolate spread Nutella.
It said the objective of the IPO would be to enable the company to increase its visibility among customers and partners and provide it with greater flexibility to seize future growth opportunities.
