ORES News

Sandwiched between the election and Thanksgiving, the US IPO market had another slow week for new offerings. Meanwhile, recent news and a string of initial filings signals that companies are preparing for IPOs in December and early 2017. Those plans are supported by the S&P 500's two-week rally of +4.7%; during the same time, year-to-date performance for 2016 IPOs has...read more

Oressa, a metal can packaging division of Ardagh Group, withdrew its plans for an initial public offering on Thursday. It originally filed in June 2015 with a proposed deal size of $300 million. The London, United Kingdom-based company was founded in 1932 and booked $1.9 billion in sales for the 12 months ended June 30, 2015. It had planned to list on the NYSE under the symbol...read more

Oressa, the metal can packaging division of Ardagh Group, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering. However, the deal size is likely a placeholder for an IPO that we estimate could raise $300 million. Oressa competes with Crown Holdings (NYSE: CCK) and Silgan Holdings (NASDAQ: SLGN). Another global consumer packaging...read more