Ardagh Group debuts at New York Stock Exchange as shares jump 18.2%

Business, Finance | Thu 16 Mar | Author – Business & Finance Paul Coulson Ardagh opening bell NYSE
Paul Coulson, executive chairman of Ardagh Group, rings the opening bell alongside John Sheehan, director of Investor Relations of Ardagh Group, David Matthews, CFO of Ardagh Group, and Ian Curley, CEO of Ardagh Group, at the Group’s listing day at NYSE

Manufacturer and supplier of glass and metal packaging products, Ardagh Group, has held an initial public offering (IPO) of its shares at the New York Stock Exchange (NYSE).

In a statement, Ardagh said it intended to sell 16.2 million class A common shares, which would represent 6.9% of its share capital.

The Paul Coulson-controlled company had priced its IPO at $19 per share. On Wednesday, shares jumped to $22.74 quickly after the Group’s executive chairman Paul Coulson rang the opening bell of the New York Stock Exchange. Shares closed at 18.2% stronger at €22.465.

Ardagh Group products include conical, rectangular, and oval shaped steel and aluminum cans for multi and single-serve use; glass bottles and jars; steel and aluminum aerosols; single-serve bowls; kegs; and custom products, including cigar boxes, rectangular steel boxes, peanut cans, and coffee cans.

The company serves personal care, household, food and industrial, alcoholic and non-alcoholic beverage, pet food, seafood, and pharmaceutical sectors worldwide.

A TCD graduate, executive chairman Paul Coulson qualified as an accountant with PwC, founded Bates Coulson & Co, entered aviation leasing and set up Yeoman International Group in 1982. He took over the former Irish Glass Bottle Company in 1998, setting off on a lengthy series of expansions and acquisitions that continues to the present day, and closed its landmark Ringsend plant in 2002.