September 28, 2018 / 5:24 AM / 3 months ago

SIG Combibloc prices Swiss IPO at 11.25 Swiss francs/share

ZURICH, Sept 28 (Reuters) - SIG Combibloc priced its initial public offering at 11.25 Swiss francs per share in a deal that raises 1.49 billion Swiss francs ($1.53 billion) before an overallotment option and values the Swiss packaging maker at around 3.6 billion francs, it said before its market debut on Friday.

As well as new shares being issued to reduce debt, Canadian private equity firm Onex, majority owner of the drinks packaging company since 2015, and SIG management are also selling some of their existing holdings.

The offer price -- which Reuters had reported on Thursday -- was towards the lower end of the 11 to 12 franc price range the company had flagged this week, narrowed from the original indication of 10.50 to 13.50 francs per share.

$1 = 0.9762 Swiss francs Reporting by Michael Shields Editing by Maria Sheahan

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