Multi Packaging Solutions (MPSX) IPO Opens Lower After Weak Pricing

Today's IPO for Multi Packaging Solutions International Limited (NYSE: MPSX) opened for trading at $12.90 after pricing 16,500,000 common shares at $13.00 per share, below the expected $15-$17 range. The size of the offering was also cut by more than 2 million shares.

BofA Merrill Lynch, Barclays and Citigroup are lead book-running managers for the offering. Credit Suisse, Goldman, Sachs & Co. and UBS Investment Bank are also serving as book-running managers for the offering. Baird and BMO Capital Markets are acting as co-managers.

MPS is a leading global provider of value-added packaging solutions to a diverse customer base across the healthcare, consumer and multi-media markets. MPS provides its customers with an extensive array of print-based specialty packaging solutions, including premium folding cartons, inserts, labels and rigid packaging across a variety of substrates and finishes. MPS has 59 manufacturing locations across North America, Europe and Asia and employs approximately 8,900 people.

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