Pact plans $649m IPO
Raphael Geminder's packaging business, Pact Group, plans to raise $649 million under its initial public offering. In a prospectus lodged with ASIC, Pact will sell shares at $3.80 each. On listing, Mr Geminder will remain a key shareholder with a 40 per cent stake. Pact
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is forecast to generate $1.1 billion of sales
this year.
