2023 Quality Foils, a leading manufacturer of aluminum foils, is set to make its debut on the stock market with an initial public offering (IPO) on June 15th, 2023. The company is offering up to 10 million shares at a price of $20 per share. The IPO is expected to raise up to $200 million in capital for the company.
GMP Securities is the lead underwriter for the IPO and will be responsible for the sale of the shares. The company has also appointed a syndicate of underwriters to assist in the sale of the shares. These include BMO Capital Markets, CIBC Capital Markets, National Bank Financial Inc., and RBC Capital Markets.
The IPO will be open to both retail and institutional investors. Retail investors will be able to purchase up to $2,000 worth of shares, while institutional investors can purchase up to $200,000 worth of shares. Allotment of the shares will be based on a lottery system, with the lottery draw taking place on June 17th, 2023.
The IPO has been met with positive reviews from analysts. They have praised the company’s strong financials and its potential for growth in the aluminum foil market. Analysts have also noted that the company’s product portfolio is well diversified and includes products for both consumer and industrial applications.
Overall, 2023 Quality Foils’ initial public offering is expected to be a success. The company’s strong financials and potential for growth in the aluminum foil market make it an attractive investment opportunity for both retail and institutional investors. With the IPO set to take place on June 15th, 2023, investors should keep an eye out for the lottery draw on June 17th, 2023 to determine their allotment of shares.
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