I have said this was likely for the past 9 months so watch this...

I have said this was likely for the past 9 months so watch this space.........

RAISINGS: Melbourne billionaire Raphael "Ruffy" Geminder has restarted the process for a potential float of packaging company Pact Group as the market for initial public offerings comes to life. Mr Geminder is understood to have begun work with Credit Suisse and Macquarie Capital, but no decision has been made.The work on a possible IPO has been on-again, off-again, with Mr Geminder mandating Deutsche and JPMorgan to investigate a float of the business in late 2009, valued at about $1 billion. That was shelved because of volatile equity markets.It would be likely that should any IPO proceed, Mr Geminder would retain a cornerstone stake in the group, which supplies bottles, PET containers and other packaging for the consumer and industrial markets.Mr Geminder is executive chairman of Pact Group, which is the old Visy Packaging business.There is also speculation that a backdoor listing via small packaging company Pro-Pac is an option. Mr Geminder secured majority control of Pro-Pac earlier this year. Positive momentum has swept the market for IPOs recently, with more than $10bn worth of floats expected to hit the Australian Securities Exchange.The possible IPOs are led by Nine Entertainment with an estimated value of $3bn - See more at: http://www.theaustralian.com.au/business/markets/geminder-gets-ball-rolling-for-pact-ipo/story-e6frg916-1226733861930#sthash.TTVTv0rt.dpuf