Pactiv Evergreen Inc: Stock falls 9% in market debut

Pactiv Evergreen

17/09/2020 16:01

** Beverage and food packaging company's shares  PTVE.O 
fall 9% in their Nasdaq debut
    ** Stock opens at $12.75/shr vs. IPO price of $14/shr
    ** PTVE raises $574.4 mln after pricing its offering of ~41
mln shares below the target range of $18 to $21 per share
 urn:newsml:reuters.com:*:nBwy0TqGa
    ** The opening price valued the firm at $2.24 bln
    ** Co counts U.S. foodservice chains Mcdonalds  MCD.N  and
Starbucks  SBUX.O  among its customers
    ** Credit Suisse Securities, Citigroup Global Markets, Bofa
Securities and Goldman Sachs were the lead underwriters of the
IPO

 (Reporting by Madhvi Pokhriyal in Bengaluru)
 ((Madhvi.pokhriyal@thomsonreuters.com))