BWAY Holding Co. IPO: Lower Price & Lower shares (BWY)

BWAY Holding Co. (BWY) priced its 10.04 million share IPO at $15.00 per share, although the indicated range was $16.00 to $18.00 and the share count was originally expected to be 11.5 million shares.  Goldman Sachs and Banc of America were the lead underwriters; co-managers are listed as J.P.Morgan and Deutsche Bank.

BWAY has been in business for more than 100 years and is a manufacturer of rigid metal containers for paint and related products.  Solutions include aerosol cans, round paint-style cans, oblong or F-style cans, a variety of specialty cans, and pails; it also produces steel ammunition boxes for conventional and high-tech armaments, and provide material center services, including metal shearing, coating, and printing.

The company claims $800 million in annual revenues and is profitable. More information can be found at its web site

Jon C. Ogg
June 13, 2007

Jon Ogg can be reached at; he does not own securities in the companies he covers.