RE: IP secondary listing on LSE3 Dec 2024 10:16
In other recent news, International Paper, a leading paper and packaging company, is making significant strides in its ongoing transformation. The company has announced its plans to acquire U.K.-based DS Smith (LON:SMDS) Plc, a sustainable packaging solutions provider. The issuance of a supplementary prospectus, an essential step for listing new shares on the London Stock Exchange (LON:LSEG), marks a crucial development in this all-stock transaction.
Further, Jefferies has raised International Paper's price target from $56.00 to $66.00, maintaining a Buy rating, indicating confidence in the company's transformational journey. This move comes as the company progresses with portfolio optimization and cost reduction efforts, including the planned sale of its Global Cellulose Fibers business and a $230 million cost-cutting initiative.