January 30, 2020 / 10:10 PM / 24 days ago

Reynolds prices towards low end of range in 1st $1 bln-plus U.S. IPO of 2020 -source

NEW YORK, Jan 30 (Reuters) - Reynolds Consumer Products on Thursday priced its initial public offering at $26 per share, according to a person familiar with the matter, towards the lower end of its target range.

The IPO valued Reynolds at around $5.3 billion. The Lake Forest, Illinois-based company had aimed to sell 47.17 million shares at a target price range of $25-$28 per share.

A representative for Reynolds did not immediately respond to a request for comment. (Reporting by Joshua Franklin in New York)

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