IPO Filing: NewPage (NWP)

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NewPage Group Inc. has submitted its IPO filing late today.  It has taken the proposed ticker of "NWP" on the New York Stock Exchange.  So far, Goldman Sachs is listed as the only lead underwriter and is the only one at all on the filing papers.

NewPage notes in the prospectus that it believes it is the largest coated paper manufacturer in North America (based on production capacity), which is used primarily in media and marketing applications.  That would apply to corporate annual reports, high-end advertising brochures, direct mailing, coated labels, magazines, magazine covers, inserts, and catalogs.

The company recently made an acquisition of SENA and it would have had pro forma net sales of $4.7 billion, and roughly pro forma EBITDA of $487 million.  The company posted a net loss, although that was unspecified in the summary.

"SENA" is Store Enso North America, and its parent Store Enso Oyj is a huge stockholder based upon that merger.  Private equity giant Cerberus is also an owner via its affiliates.

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Jon C, Ogg
May 5, 2008