(Updates shares, adds details of listing and broader listing
SYDNEY, June 27 Shares in Australian-Swedish
toilet paper and tampon maker Asaleo Care Ltd debuted
at a 3.6 percent premium on Friday in a sturdy performance from
the country's second-largest new listing of the year.
Shares in the maker of Sorbent toilet paper and Libra
feminine hygiene products first traded at A$1.71 ($1.61) and
were at A$1.70 by 0210 GMT, compared to an issue price of
A$1.65, in a flat overall market.
The listing of Asaleo, previously called SCA Hygiene,
continues the rush of private equity firms choosing sharemarket
exits in Australia, which is headed for its biggest year of
initial public offers in almost a quarter century.
In particular, it continues a bumper year for Australia's
largest private equity firm, Pacific Equity Partners (PEP),
which in May had the country's biggest listing of 2014 so far,
cleaning and catering company Spotless Group Ltd.
In the Asaleo listing, which raised A$656 million, PEP
received A$320 million for the 49.5 percent stake for which it
paid A$250 million in 2011. Its 50:50 joint venture partner,
Swedish hygiene and forest products company Svenska Cellulosa
SCA AB, kept its half stake, diluted to one-third in
($1 = 1.0639 Australian Dollars)
(Reporting by Byron Kaye; Editing by Stephen Coates)