INTERTAPE POLYMER GROUP FILES INITIAL PUBLIC OFFERING OF 2,800,000 COMMON SHARES
INTERTAPE POLYMER GROUP FILES INITIAL PUBLIC OFFERING OF
2,800,000 COMMON SHARES
MONTREAL, Nov. 21 /PRNewswire/ -- Intertape Polymer Group Inc. announced today that it had recently filed a registration statement on Form F-1 with the Securities and Exchange Commission for its proposed initial public offering. The offering consists of 2,800,000 common shares, of which 1,700,000 common shares are being offered initially in the United States and 1,100,000 common shares are being offered initially in a concurrent offering in Canada. Dean Witter Reynolds Inc. and Midland Walwyn Capital Inc. will manage the U.S. and Canadian portions of the offering, respectively. It is expected that the offering price will be between U.S.$11.50 and U.S.$13.50 per share.
All of the shares will be issued and sold by the company. Net proceeds of the contemplated offering will be used to repay outstanding indebtedness of the company. Intertape Polymer Group Inc. develops, manufactures and sells a variety of specialized polyolefin plastic packaging products for industrial use.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Copies of the U.S. or Canadian prospectuses relating to the offering may be obtained from Dean Witter Reynolds Inc., 75 Varick Street, New York, NY (212-392-2260), or Midland Walwyn Capital Inc., 1 Place Ville Marie, Montreal, Quebec (514-879-1020), respectively.
/CONTACT: Barbara Hynes of Gavin Anderson Doremus, 212-921-1060, for Dean Witter Reynolds/ CO: Intertape Polymer Group Inc. ST: Quebec IN: SU: OFR SB -- NY086 -- 6005 11/21/91 15:06 EST