Aluminum foil maker Reynolds prices IPO at $26

Aluminum foil maker Reynolds prices IPO at $26

Reynolds Consumer Products Inc. said late Thursday it priced its initial public offering at $26 a share, raising $1.2 billion. The company had expected to sell its 47.17 million shares between $25 and $28 a share. Reynolds, the maker of the eponymous aluminum foil and Hefty bags, said it granted underwriters a 30-day option to purchase more than 7 million additional shares. Reynolds shares are expected to begin trading on the Nasdaq on Friday. Credit Suisse, Goldman Sachs, and J.P. Morgan were among the underwriters.

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