IPL Plastics plc, a Dublin-based packaging solutions provider, has filed a preliminary prospectus with Canadian securities regulators for an initial public offering of common shares. The offering has not yet been priced; however, the Irish Times earlier reported the company is looking to raise about $200 million (€125 million). IPL, formerly known as One51 plc, three years ago acquired Saint-Damien Québec-based IPL Inc, a maker of injected moulded plastic products, from Novacap for about $280 million. The company has since been backed by Caisse de dépôt et placement du Québec and Fonds de solidarité FTQ.
IPL Plastics plc Preliminary Prospectus Update
07 May 2018
The Board of IPL Plastics plc (“IPL” or the “Company”), a leading sustainable packaging solutions provider primarily in the food and consumer, agricultural, logistic and environmental end-markets, wishes to inform shareholders that a copy of the preliminary prospectus, which was filed on 4th May 2018 with the securities regulatory authorities in each of the provinces and territories of Canada for a proposed initial public offering of IPL Plastics Inc.’s common shares is now available on SEDAR (www.sedar.com) or via www.iplplastics.com.
Photo courtesy of IPL Plastics plc