Ardagh Group, a global provider of metal and glass containers for consumer packaged goods, filed on Thursday with the SEC to raise up to $100 million in an initial public offering. However, we estimate that the deal size is likely a placeholder for an IPO that we estimate could raise $1.0-1.5 billion.
The London, United Kingdom-based company was founded in 1932 and booked €5.7 billion in historical sales ($6.1 billion) for the 12 months ended September 30, 2016. It plans to list on the NYSE under the symbol ARD. Citi is currently listed as the sole bookrunner on the deal. No pricing terms were disclosed.
