C&C’s flotation value set at €800m

DRINKS and snack food group C&C will be valued at approximately €800 million when it floats later this month.

C&C, which published its listing document yesterday, has set a price range of between €2.26 and €2.74 per share, valuing the company at between €723m and €876m. Dealing in C&C shares will start on the Dublin and London stock exchanges on May 14.

Bloxham stockbrokers analyst Peter Jackson said the price range was attractive compared to similar companies. He said C&C had set its price too high before its aborted flotation in 2002, when the company was expected to have a market capitalisation of between €900m and €1.2 billion.