Graeme Hart to float part of packaging empire in US$1.37b IPO

By Rebecca Howard | Wed, 22 Jan 2020


Kiwi billionaire Graeme Hart is looking to raise up to US$1.37 billion selling part of his packaging empire in an initial public offering. Reynolds Group Holdings last year said its second-largest division - Reynolds Consumer Products - had confidentially submitted a draft IPO registration to the US Securities Exchange Commission. Today it announced an offer of 47.17 million shares at an expected price of between US$25 and US$28 per share.   "We estimate that the net proceeds to us from this offering will be approximately US$1,19...