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Reynolds Consumer Products Inc. has launched an initial public offering of 47,170,000 shares of its common stock pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission. The initial public offering price is expected to be between $25 and $28 per share, which adds up to a raise of about $1.32 billion at the high end.

The underwriters will have a 30-day option to purchase up to an additional 7,075,500 shares of common stock from the company. The company has applied to list its shares of common stock on the Nasdaq Global Select Market under the ticker symbol “REYN.”

Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as joint lead bookrunning managers for the offering. Barclays Capital Inc., Citigroup Global Markets Inc., Evercore Group L.L.C., RBC Capital Markets, LLC and HSBC Securities (USA) Inc. are also acting as joint bookrunning managers.

Stifel, Nicolaus & Co. Inc., SunTrust Robinson Humphrey Inc. and Academy Securities Inc. are acting as co-managers.