Geminder eyes $650m IPO with Pact selldown

The packaging firm's IPO is expected to be the largest this year.

Melbourne billionaire Raphael Geminder is expected to raise at least $650 million if he proceeds with the selldown of his interest in packaging firm Pact Group through a stockmarket float, making it the biggest IPO of the year.

It is understood the final pricing of any possible Pact offer would not be decided upon until a management roadshow over the next fortnight, which would include tours of the company's Sydney and Melbourne facilities next Wednesday and Thursday.

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