Switzerland-based packaging firm SIG Combibloc has unveiled plans to raise €1bn through stock exchange listing.
The funding raised from selling new shares will be used by the company to reduce its debt.
The Swiss listing is reportedly expected to value SIG at over €5bn including debt.
Canada-based private equity firm Onex is expected to retain around 50% interest in the Swiss packaging firm. It is the major shareholder in SIG from 2015.
In 2014, Onex has acquired SIG, supplier of carton packaging and filling machines for beverages and food, for €3.75bn.
Based in Neuhausen, SIG is a major supplier of systems and solutions for aseptic packaging. It supplies a complete range of packs flexible filling machines and solutions to efficiently operate factories.
SIG distributes complete systems, including the packaging materials and the corresponding filling machines. The company mostly uses cardboard manufactured from wood to produce its carton packs.
The group has operations in four regions, including Americas, Europe, Middle East and Asia Pacific.
SIG uses advanced filling machines for large-size packages, which can fill 9,000 cartons per hour. The filling machines for medium-size packs hold capacity to fill 12,000 cartons per hour.
The food option filling machines will be used for filling thick and chunky foods such as soups, sauces or desserts into combibloc and combifit cartons.
The machines will individually shape, size, fill and ultrasonically seal each carton above the filling level and not through the product.
SIG produces Signature Pack, which was developed by using plant-based renewable material. It was produced by using wood sourced paperboard and polymers are used for laminating the paperboard.
In February this year, SIG Combibloc formed a joint venture with Dai Nippon Printing (DNP) to create a new carton packaging company in Japan.
DNP and SIG Combibloc will both own 50% stake in the joint venture company, which will operate under the name DNP SIG Combibloc from Tokyo headquarters, starting from April.
The joint venture will mainly focus on supplying value added carton packaging and filling solutions to the Japanese food and beverage industry.