April 30, 2019 / 2:18 PM / a month ago

French glass bottlemaker Verallia confirms stock market listing plans

PARIS (Reuters) - French glass bottle maker Verallia said it was considering a stock market flotation in Paris this year, confirming an earlier Reuters exclusive, in what could be one of the biggest market listings on the market for this year.

Verallia also reported on Tuesday higher first quarter results.

Revenues rose 6.7 percent to 633 million euros ($710 million) while its adjusted earnings before interest, tax, depreciation and amortization (EBITDA) rose 18.8 percent to 142 million euros.

Reuters reported earlier that buyout group Apollo was preparing Verallia for a stock market listing later this year, in what could become one of the largest French initial public offerings of the year.

“Verallia and its shareholders are considering an Initial Public Offering of the Group on Euronext Paris in 2019. This would enable Verallia to increase its visibility vis‐à‐vis its customers and partners, and would give it the flexibility it needs to pursue any future growth opportunities,” said Verallia chief executive Michel Giannuzzi.

Reporting by Sudip Kar-Gupta; Editing by Leigh Thomas

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