A source told Bloomberg that Austria-based Constantia Flexibles Group was thinking of going public in a EUR 500 million or USD 684 million IPO. Constantia Flexibles is a portfolio firm of One Equity Partners. Two people with knowledge of the deal said the listing could occur in December. They said the packaging company preferred to hold the initial public offering in Frankfurt, but might also trade the stock in Vienna. The sources added that the owners would also consider bids from industry buyers even if the former would favor an IPO for the Vienna- based company.

In August, three people familiar with the matter said the IPO would be managed by JPMorgan Chase & Co, Goldman Sachs Group Inc and Deutsche Bank. The Austrian newspaper Die Presse reported that One Equity could sell anywhere from a 30% to a 50% ownership stake in the Constantia Flexibles.

The EBITDA or earnings before interest, tax, depreciation and amortization of Constantia Flexibles jumped 18% to EUR 113 million in the first half of 2013. For the rest of the year, the company said its outlook was positive.

Constantia Flexible Group provides flexible packaging solutions to food, pet food, pharmaceutical and beverage industries worldwide.