Newspaper article St Louis Post-Dispatch (MO)

Top Private Firm Giving Up Privacy Stock Sale Makes Smurfit a Public Company

Newspaper article St Louis Post-Dispatch (MO)

Top Private Firm Giving Up Privacy Stock Sale Makes Smurfit a Public Company

Article excerpt

The biggest privately held company in the St. Louis region won't keep that title in next year's Post-Dispatch 50.

Jefferson Smurfit Corp. returned to the public stock market last week - well after the Post-Dispatch 50 list was compiled - after a five-year absence.

Smurfit, a paper and packaging company based in Clayton, went private in 1989. It is owned by Smurfit Group PLC, based in Ireland, and Morgan Stanley & Co., an investment firm in New York.

With $4.2 billion in revenue last year from its paper, cardboard, packaging and recycling operations, Jefferson Smurfit still overshadowed all St. Louis private companies in size even though its revenue declined.

On Wednesday, the company raised $250 million by selling 19.25 million shares to the public at $13 apiece. In future years, therefore, Smurfit will have to contend for a spot among the area's top public companies.

In second place among private companies is Apex Holding Co. of Clayton, with revenue of $2. …

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