Pact Group makes shaky share market debut

SHARES in packaging manufacturer Pact Group finished more than 12 per cent lower in a lacklustre share market debut.

The company was formed in June 2002 and sells rigid and metal packaging products in Australia, New Zealand and Asia.

Pact raised $649 million by issuing shares at $3.80 each in a public offer that valued the company at $1.1 billion.

The shares began trading at 1215 AEDT on Tuesday, and fell by as much as 10.8 per cent in early trade.

They finished 48 cents, or 12.63 per cent, at $3.32.

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