Pactiv Evergreen (PTVE) is planning to raise $800 million in an initial public offering (IPO) on Thursday, September 17th, IPO Scoop reports. The company will issue 41,000,000 shares at $18.00-$21.00 per share.
In the last year, Pactiv Evergreen generated $6.8 billion in revenue and had a net loss of $51 million. The company has a market-cap of $3.4 billion.
Credit Suisse, Citigroup, BofA Securities and Goldman Sachs & Co acted as the underwriters for the IPO and Baird, BMO Capital Markets, Deutsche Bank Securities, RBC Capital Markets, Academy Securities, Loop Capital Markets, Rabo Securities, Ramirez & Co. and Siebert Williams Shank were co-managers.
Pactiv Evergreen provided the following description of their company for its IPO: ” We are the largest manufacturer and distributor of fresh foodservice and food merchandising products and fresh beverage cartons in North America (as measured by revenue). We produce a broad range of on-trend and feature rich products that protect, package and display fresh food and beverages for consumers who want to eat or drink fresh, prepared or ready-to-eat food and beverages conveniently and with confidence. Consumers use our products every day in restaurants, coffee shops, supermarkets, grocery stores and their homes and we estimate that our products are used by people in the United States approximately 5 billion times per week. The company was formerly known as Reynolds Group Holdings, Ltd. “.
Pactiv Evergreen was founded in 2006 and has 15000 employees. The company is located at 1900 W. Field Court Lake Forest, Illinois 60045 and can be reached via phone at (800) 879-5067 or on the web at http://www.pactivevergreen.com.
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