Verallia reports initial public offering success
Verallia has confirmed the success of its initial public offering with French and international institutional investors on the regulated market of Euronext Paris. The proceeds from the sale of existing shares amounted to €888 million, including €838 million sold by Horizon Parent Holdings sarl, which is 90%-owned by AIF VII Euro Leverage LP, an investment fund managed by an affiliate of Apollo Global Management Inc and 10%-owned by Bpifrance Participations, €41 million by certain managers of the group and €9 million by certain co-investors.
Based on an offering price set at €27 per share, Verallia’s market capitalisation amounts to approximately €3.2 billion.
Michel Giannuzzi (photographed), President/CEO of Verallia, commented: “We are very pleased with the successful completion of Verallia’s initial public offering, which illustrates the strong confidence of investors in our strategy and in the relevance of our positioning in the glass packaging market. This initial public offering bolsters our visibility, while providing us with more flexibility to seize future growth opportunities. It constitutes a major milestone in the group's history.”
