Reynolds Consumer Products, a leading provider of household and kitchen products, announced terms for its IPO on Tuesday.
The Lake Forest, IL-based company plans to raise $1.3 billion by offering 47.2 million shares at a price range of $25 to $28. At the midpoint of the proposed range, Reynolds Consumer Products would command a fully diluted market value of $5.4 billion.
Reynolds Consumer Products was founded in 2011 and booked $3.1 billion in sales for the 12 months ended September 30, 2019. It plans to list on the Nasdaq under the symbol REYN. Credit Suisse, Goldman Sachs, J.P. Morgan, Barclays, Citi, Evercore ISI, RBC Capital Markets, and HSBC are the joint bookrunners on the deal. It is expected to price during the week of January 27, 2020.
