3 Jun 2014

Asaleo Care plans Australian listing

1:17 pm on 3 June 2014

Asaleo Care is planning to raise up to $A690 million and to list on the Australian Stock Exchange.

The company manufactures feminine, baby and incontinence products and owns the Libra, Sorbent, Purex, Handee, TENZ and Treasures brands. It has operations in Australia, New Zealand and Fiji.

The price of the shares will be established through an auction process among institutions between 23 and 24 June.

Asaleo, which has brands more than 60 years old, has been owned since 2011 by the Swedish Cellulose Company and has funds advised by private equity firm, Pacific Equity Partners.

PEP plans to sell its entire stake in the float while the Swedish company plans hold its stake which is currently 50 percent but which will be diluted to about 33 percent through the float.