Constantia Flexibles AG, a manufacturer of flexible packaging products, announces that it has decided not to proceed with the initial public offering.
In the envisaged IPO, new shares to be issued from a capital increase and existing shares of the selling shareholder, One Equity Partners, would have been placed.
In late-October 2013, Constantia Flexibles Group had announced that it planned an IPO before the end of this year.
On 12th November 2013, the company had said it set the price range for its Initial public offering at 19.50 euros - 25.50 euros per share. The offer would comprise up to 5.13 million newly issued and up to 24.08 million shares from the holding of CP Group Holding Cooperatief U.A. In total, 28 million shares should be placed, with an additional up to cover the potential over-allotment, which corresponds to at least 50.0 percent of the share capital (at least 57.5 percent including the over allotment).
The gross proceed from the sales of newly issued shares of 100 million euros would go to the company.
Original press release at RTT News online
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