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Bloomberg
Reynolds Consumer Products Inc, the maker of Reynolds Wrap aluminum foil and Hefty trash bags, has filed for a US initial public offering.
The company has hired Credit Suisse Group AG, JPMorgan Chase & Co and Goldman Sachs Group Inc for the share sale. The $100 million registration amount listed on the documents is a placeholder used to calculate fees that will likely change. The number of shares and the price range for the proposed offering haven’t been decided yet, the company said in a statement.
The company, backed by New Zealand billionaire Graeme Hart’s Rank Group Ltd, said in a statement in September that it had confidentially submitted its IPO registration to the US Securities and Exchange Commission.
For the nine months ended on September 30, Reynolds reported $2.2 billion in revenue and $135 million in net income, according to the filing.