Home / Market News / Pactiv Evergreen prices at $14, below the $18-to-$21 range

Pactiv Evergreen prices at $14, below the $18-to-$21 range

Food packaging company Pactiv Evergreen has priced at $14, far below the $18-to-$21 range that had been expected. Pactiv Evergreen filed its IPO paperwork at the end of August and set terms last week. It plans to offer 41.03 million shares, raising $574 million. Graeme Hart, owner of Rank Group, has agreed to purchase 3.6 million shares for about $50 million. Pactiv Evergreen will trade on the Nasdaq under the ticker ‘PTVE.’ The Renaissance IPO ETF has soared 59.2% for the year to date while the S&P 500 index has gained 4.8% for the period.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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