September 14, 2018 / 4:20 PM / 2 months ago

SIG Combibloc sets price range for IPO at 10.5 to 13.5 swiss francs per share

ZURICH, Sept 14 (Reuters) - Swiss packaging maker SIG Combibloc on Friday set the price range for its initial public offering at 10.50 to 13.50 Swiss francs per share, targeting proceeds of around 1.5 billion Swiss francs ($1.55 billion) that it aims to use to trim debt.

Canadian private equity firm Onex, majority owner of the maker of the drinks packaging company since 2015, and SIG management will also sell existing shares, although the existing shareholders will hold up to 56.4 percent in the company after the listing is completed and if an overallotment of shares is exercised.

$1 = 0.9666 Swiss francs Reporting by John Revill

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