Packaging company Pactiv Evergreen to offer 41.03 million shares in IPO priced at $18 to $21 each

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Packaging company Pactiv Evergreen INc. set terms for its initial public offering on Tuesday, with plans to offer 41.03 million shares, priced at $18 to $21 each. The company has applied to list on Nasdaq under the ticker ‘PTVE.’ There are 14 banks underwriting the deal, led by Credit Suisse and Citigroup. Proceeds will be used to repay debt and for general corporate purposes. “We are the largest manufacturer and distributor of fresh foodservice and food merchandising products and fresh beverage cartons in North America (as measured by revenue),” the company says in its prospectus.
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