Ardagh Finance Holdings has filed an F-1 form with the U.S. Securities and Exchange Commission (SEC) for its initial public offering (IPO). No pricing details were included in the filing, but the offering is valued up to $100 million, although this number is usually just a placeholder. The company intends to list its shares on the New York Stock Exchange under the symbol ARD.

The sole underwriter for this offering is Citigroup.

This is a leading supplier of innovative, value-added rigid packaging solutions. Its products include metal and glass containers primarily for food and beverage markets, which are characterized by stable, consumer-driven demand. These end-use categories include beer, wine, spirits, carbonated soft drinks, energy drinks, juices and flavored waters, as well as food, seafood and nutrition. Ardagh also supplies the paints and coatings, chemicals, personal care, pharmaceuticals and general household end-use categories.

Customers include a wide variety of leading consumer product companies that value packaging products for their features, convenience and quality, as well as the end-user appeal they offer through design, innovation, functionality, premium association and brand promotion. With the company’s significant invested capital base, extensive technological capabilities and manufacturing know-how, management believes the company is well-positioned to continue to meet the dynamic needs of its global customers.

The company has mainly built itself through strategic acquisitions and have established leadership positions in large, attractive markets in beverage cans, food and specialty cans, and glass containers. Roughly 95% of its revenue is derived from end-use categories, where management believes Ardagh holds top-three positions.

In the filing, the company detailed its finances as follows:

Our pro forma net profit and Adjusted EBITDA for the nine months ended September 30, 2016 were €55 million and €1,027 million, respectively. Our pro forma net profit and Adjusted EBITDA for the year ended December 31, 2015 were €40 million and €1,287 million, respectively. Our net cash from operating activities for the nine months ended September 30, 2016 and for the year ended December 31, 2015 were €315 million and €568 million, respectively. Our Free Cash Flow for the nine months ended September 30, 2016 and for the year ended December 31, 2015 were €115 million and €264 million, respectively.

The company intends to use the net proceeds from this offering to reduce its indebtedness.

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