Shares in packaging company Ardagh Group closed over 20% higher on their first day of trading in New York last night.
Ardagh said it had raised $307.8m in an initial public offering to help to pay down debt.
Chairman Paul Coulson, who owns about a third of the group, said there were no plans to follow up the IPO with additional issuance.
"We think we’ve priced it at the right level," Coulson told Reuters in an interview.
"We were very focussed on bringing on the right type of investor, and we got a fantastic investor base."
He declined to name any investors but said "all the big guys were there" including a couple of large European investors.
Coulson has transformed Ardagh from a small, single plant operation to a company that operates out of over 100 facilities in 22 countries.
Ardagh, which has been making Dutch brewer Heineken's green beer bottles for over 25 years, has said it will use the proceeds of the IPO to pay down debt which stood at $7.2 billion or over five times its annual earnings last year.
Coulson said investors were "extremely comfortable" with the Ardagh's debt levels and they had not been prescriptive about the rate of deleveraging.
The 16.2m class A common shares issued represented approximately 6.9% of Ardagh's share capital.
Ardagh opted for a relatively modest IPO as the group was keen avoid dilution, Coulson said.
"There may be issuance in the future associated with an acquisition, but not now," he said.
The packaging producer, which also counts L'Oreal and Coca-Cola among its clients, has grown its annual revenue to €7.7 billion through a series of acquisitions.
It will continue to keep an eye out for acquisition opportunities, Coulson said, but there is "nothing in the traps" at the moment.
While the IPO provides a route to public market liquidity for smaller investors in the company, Coulson said he had no plans to offload any of his own shares.
