Friday, 14 Aug 2020

Champagne bottle maker Verallia makes flat market debut

PARIS (Reuters) – Shares in French glass bottle maker Verallia, which floated on the Paris stock exchange in the country’s biggest initial public offering this year, started trading on Tuesday at just above its offer price.

The stock was trading at 27.13 euros by 0710 GMT, compared to its initial public offering price of 27 euros.

Verallia, which supplies containers to brands such as Dom Perignon champagne and chocolate spread maker Nutella, was valued at 3.2 billion euros ($3.5 billion) in the flotation.

It aims to use the money raised to fund possible acquisitions.

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