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Shares in IPL Plastics dipped in their first hours of trading yesterday after the company completed its Canadian IPO.

Shares were down more than 1.3pc after the first three and a half hours, with IPL having raised CAD$178.2m (€116m) as part of the deal.

The company plans to use acquisitions to expand its manufacturing footprint into new countries, chief executive Alan Walsh said in Canada yesterday.

Europe and North America are the company’s two main areas of focus for future expansion, given that IPL has no manufacturing presence in continental Europe, Mr Walsh said.

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