Irish investors in IPL Plastics, formerly known as One51, have tendered just under 2.1m shares in the buyback option offered by the company as part of its planned initial public offering (IPO) on the Toronto stock exchange later this month.

Documents filed by IPL Plastics show fewer than 2.1m shares, or about 5% of those held by original investors, have been tendered for the share buyback offer and will receive a price in the range of C$13.50 to C$16.00 (€9 to €10.60) per share. This values original shares in One51 between C$2.70 and C$3.20 (€1.79 to €2.12) per share.