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PEP-backed Asaleo Care eyes $618m IPO

24 Jun 2014

????????????????????????????Private equity-backed Australian toilet paper and tissue maker Asaleo Care is reportedly looking to raise A$656m ($618m) via an IPO.

Asaleo has priced its IPO at A$1.65 per share, which is in the middle of its indicative range of A$1.55 to A$1.80 per share, said Reuters, citing people familiar with the matter.

The company is owned by Australian private equity firm Pacific Equity Partners (PEP) and Swedish forest products company Svenska Cellulosa (SCA).

SCA is expected to reduce its interest to a third of the company from 50 per cent currently and PEP will fully exit its stake, said the report.

Last month PEP exit cleaning and catering company Spotless in the largest Australian IPO of the year.

Earlier this month PEP agreed to sell Australian ice cream maker Peters Food Group to its UK-based peer R&R.

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