Constantia Flexibles IPO to raise up to 821 mln eur


VIENNA, Nov 13 (Reuters) - Austrian packaging groupConstantia Flexibles plans to raise up to 821million euros ($1.10 billion) in an initial public offering inFrankfurt and Vienna on Nov. 27.

Constantia said it would price its new shares in a range of19.50 to 25.50 euros each and would offer up to 32.2 millionshares for sale, representing up to 57.5 percent of the companyand valuing Constantia at up to 1.43 billion euros.

Reuters had reported last week that Constantia hoped tocarry out the IPO before the U.S. Thanksgiving holiday on Nov.28 and may raise as much as 800 million euros.

The offering comprises up to 5.13 million new shares and upto 24.08 million from the holdings of JP Morgan's OneEquity Partners (OEP), up to a maximum of 28 million shares,plus an over-allotment option of up to 4.2 million from OEP.

The gross proceeds of 100 million euros from the new shareswill go to Constantia Flexibles, the company said in a statementlate on Tuesday.

Bookbuilding will take place in Germany and Austria betweenNov. 14 and Nov. 26 and the shares are due to be listed on thePrime Standard of the Frankfurt Stock Exchange and the SecondRegulated Market of the Vienna Stock Exchange on Nov. 27.

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