Smurfit Kappa plc announces decision to float

Smurfit Kappa plc today announced its intention to proceed with an offer of new ordinary shares to institutional investors in Ireland and elsewhere.

The offer will raise approximately €1.3bn (before fees and expenses and before exercise of the over-allotment option described below) and to seek a primary listing for the Shares on the Irish Stock Exchange and a secondary listing on the London Stock Exchange.

Since 2002, the Group has strengthened its market leadership position through the merger with Kappa Packaging BV, improved its asset base through the disposal of over €1bn of non-core and non-strategic assets and investments and rationalised its high cost capacity through the closure of eight plants across Europe.