Ardagh's owner Paul Coulson is rapidly approaching billionaire status as he announced plans to float his glass bottle & packaging company on US stock markets in the summer, marking the first initial public offering by an Irish company on Wall Street since the dotcom boom a decade ago. Analysts have valued Coulson's company at as much as 2.2BN/Euros, although this figure is likely to be revised after testing investor demand for the shares. Citigroup is advising Ardagh on its Wall St flotation.Following its 1.7BN/Euros buyout of can maker Impress last year, Ardagh is now thought to have sales of 3.2BN/Euros per year & is extremely profitable. Ardagh has been transformed in less than a decade from a mid-ranking Irish stockmarket firm to a global player in the somewhat unsexy glass & packaging business. Mr Coulson took the company private in 2002 & broke it up in a complex deal.
