LONDON/FRANKFURT (Reuters) - SIG Combibloc is on track to announce in September its intention to float on the stock market in Zurich, three sources familiar with the matter said, in a listing that could value the Swiss packaging maker at close to 5 billion euros ($5.7 billion).

FILE PHOTO: The logo of SIG Combibloc Group, manufacturer of carton packaging and filling machines for beverages and food, is seen at a plant in the town of Neuhausen, Switzerland June 15, 2016. REUTERS /Arnd Wiegmann/File Photo

Goldman Sachs GS.N, Credit Suisse CSGN.S and Bank of America BAC.N are global coordinators for the listing. The sources said Morgan Stanley MS.N, Citi C.N and Barclays BARC.L are bookrunners on the deal.

SIG Combibloc’s private equity owner Onex did not respond to a request for comment. Morgan Stanley, Citi and Barclays declined to comment.

Typically companies join the market around two weeks after publishing a notice of their intention to float.

Finance industry sources said they expected a flurry of new listings in September in Europe, where proceeds from initial public offerings (IPO) of European firms rose 35 percent in the first half of the year to almost $30 billion, according to Thomson Reuters data.

But while more IPOs are expected, a high proportion of listings being shelved has put bankers on edge.

For example, two HNA-backed Swiss companies - ground services and cargo handling unit Swissport Group and airline caterer Gategroup - have canceled flotation plans. More recently the London IPO of education company GEMS was shelved.

SIG makes cartons for food and drinks and competes with larger rival Tetra Pak, part of Tetra Laval. One of the sources said the company told bond holders recently that its last 12-month earnings before interest, tax, depreciation and amortization were around 480 million euros ($548.7 million).

With peers such as Berry BERY.N, Ball BLL.N, Silgan SLGN.O, Bemis BMS.N or Polyone POL.N trading at around 9 to 11 times EBITDA, according to Thomson Reuters data, the company could be valued at close to 5 billion euros.

The company, which employs than 5,000 people at about 40 locations around the world, was previously listed in Switzerland as part of the Schweizerische Industrie Gesellschaft (SIG) conglomerate that made everything from juice cartons to passenger trains and weapons. Its businesses were gradually sold off as the company trimmed its focus to packaging.