Packaging conglomerate Ardagh Group is well advanced with plans to launch an initial public offering (IPO) and intends to float on the New York Stock Exchange later this quarter, chairman Paul Coulson said today.
The Luxemburg-based supplier of glass and metal containers is controlled by Irish businessman Paul Coulson.
Ardagh said last year that it planned to list its operating company, but would only float around 5% - equating to just €250-300m.
"The process with the IPO is well advanced and our objective is to IPO on the New York Stock Exchange later this quarter," Paul Coulson told an investor call today.
"As previously outlined, whilst the funds to be raised in the IPO are expected to be relatively modest and used for deleveraging, becoming a publicly listed company represents a very logical progression," he added.
