For full functionality of this site it is necessary to enable JavaScript. Here are the instructions how to enable JavaScript in your web browser.
Back to Market and Insights

Davy advises Smurfit Kappa on their €660m Equity Fundraise

20th November, 2020

Davy acted as Joint Bookrunner and Joint Global Co-Ordinator on an accelerated bookbuild placing of 8.1% of the issued share capital of Smurfit Kappa Group plc (“Smurfit Kappa” or the “Group”), raising gross proceeds of €660m.

Transaction Highlights

Accelerated bookbuild structure, launched after market close. Placing price following completion of bookbuild of €34, a discount of 5.8% to the closing price. Book was multiple times over-subscribed quickly after launch, with strong support from existing shareholders and new investors from the UK, Europe and the US.

Company Overview

Smurfit Kappa, a FTSE 100 company, is one of the leading providers of paper-based packaging solutions in the world, with approximately 46,000 employees in over 350 production sites across 35 countries and with revenue of €9.0 billion in 2019.

Background to the Transaction

The Placing positions the Group to capitalise on €1.2bn to €1.4bn of significant investment opportunities identified by the Group. Increased investment in the business will enable the Group to strengthen its partnerships with customers through innovation and added-value products, and to capitalize on the drivers of growth in the industry as e-commerce penetration deepens and consumer demand for sustainable packaging increases.

Davy Value Add

Davy acted as Joint Bookrunner and Joint Global Co-Ordinator. Davy is proud to have served as Corporate Broker to Smurfit Kappa since its IPO in 2007.

Learn more about Capital Markets

Corporate Insights