Smurfit Kappa Group’s €660 Million Share Placing

Matheson have advised Smurfit Kappa Group, the FTSE 100 packaging company, on all aspects of its successful €660 million primary share issuance.

Cardboard box-maker Smurfit Kappa (SKG:ID) has raised €660 million in a share sale as it sought to accelerate investment projects to take advantage of a surge in ecommerce and a shift across the consumer goods industry towards sustainable packaging.

The company hired Credit Suisse, Davy and BNP Paribas to manage the share placing, it said in a stock exchange statement after European markets closed.

The company listed 19.4 million new shares, selling them at €34.00 each or £30.46 for investors who elected to settle in sterling.

The new shares represent approximately 8.1% of the company’s issued share capital immediately prior to the placing.

Smurfit Kappa Group PLC manufactures paper packaging products. The Company offers container boards, corrugated containers, and other paper-based packaging products.

The Matheson team was led by leading capital markets partner David Fitzgibbon (Picture), who was joined by fellow corporate partners Susanne McMenamin and David Jones.

Involved fees earner: David Fitzgibbon – Matheson; David Jones – Matheson; Susanne McMenamin – Matheson;

Law Firms: Matheson;

Clients: Smurfit Kappa;

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