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PEP exits Asaleo Care stake via IPO

27 Jun 2014

aussttPrivate equity-backed toilet paper and tampon maker Asaleo Care rose in its debut on the Australian Securities Exchange.

Shares in the company topped A$1.7 apiece in the first hours of trading, up from the IPO price of A$1.65, which was in the middle of its indicative range of A$1.55 to A$1.80.

Private equity firm Pacific Equity Partners sold its 49.5 per cent stake in Asaleo for a$320m via the IPO.

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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