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Constantia Flexibles IPO to raise up to 821 mln eur

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

Constantia said it would price its new shares in a range of 19.50 to 25.50 euros each and would offer up to 32.2 million shares for sale, representing up to 57.5 percent of the company and valuing Constantia at up to 1.43 billion euros.

Reuters had reported last week that Constantia hoped to carry 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 up to 24.08 million from the holdings of JP Morgan's One Equity 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 shares will go to Constantia Flexibles, the company said in a statement late on Tuesday.

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