Austrian converter Constantia Flexibles cancels IPO

Vienna, Austria-based Constantia Flexibles AG, a leading manufacturer of flexible packaging, says that, following intensive investor marketing, it has decided not to proceed with the IPO of Constantia Flexibles.

It believes a satisfactory completion of the transaction including a healthy aftermarket development could not be ensured. In the envisaged IPO, new shares to be issued from a capital increase and existing shares of the selling shareholder, One Equity Partners, would have been placed.

As recently as two weeks ago, Constantia Flexibles had set the price range for the IPO at EUR 19.50 to EUR 25.50. The shares were to be offered to investors in Germany and Austria between Nov. 14 and today. 

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