Pact IPO priced at $3.80 a share

DataRoom: IPO of packaging empire set to list with market cap of $1.12bn.

The initial public offering of Raphael Geminder’s packaging empire Pact Group will price at $3.80 per share, which would see it list with a market capitalisation of $1.12 billion on December 17.

As foreshadowed by DataRoom last night, the packaging giant will price at 8.5 times forecast earnings before interest, tax depreciation and amortisation for this year, of $202 million, putting it at the lower end of joint lead manager Macquarie Group’s predicted range. The float, which opened to institutional investors today, is set to raise $649 million.

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