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* Australia's second-biggest listing so far this year
* Australia bound for biggest listing year in decades
* PEP also listed Spotless Group
By Byron Kaye
SYDNEY, June 24 Toilet paper and tampon maker
Asaleo Care Ltd will raise A$656 million ($616.6 million) in
Australia's second-largest initial public offering (IPO) of the
year after pricing its offer near the middle of an indicative
range, two people familiar with the matter said on Tuesday.
Asaleo, jointly owned by private equity firm Pacific Equity
Partners (PEP) and Swedish hygiene and forest products company
Svenska Cellulosa SCA AB, set the price at A$1.65 a
share from a range of A$1.55 to A$1.80, said the people, who
declined to be identified as the information was not yet public.
The IPO continues Australia's stampede of new listings as
companies take advantage of a buoyant share market. The country
is headed for its biggest year of new listings in almost a
quarter of a century.
The IPO also continues a bumper year for private equity
firms exiting investments via listings. Australia's largest
listing so far this year was another former PEP investment -
cleaner and caterer Spotless Group Ltd, whose shares
have traded over their issue price since listing in May.
Dwarfing that, TPG Capital Management LP and
Carlyle Group LP are widely expected to soon lodge a
prospectus with the securities authorities to list hospital
company Healthscope in a share offer worth up to A$4 billion.
In the Asaleo IPO, owners agreed to sell 398 million shares
in a bookbuild which attracted retail and institutional
investors as well as offshore institutional investors, the two
SCA plans to reduce its ownership of Asaleo to around
one-third from a half as part of the IPO, while PEP will sell
its entire stake.
The stock is scheduled to begin trading on June 27.
($1 = 1.0639 Australian Dollars)
(Reporting by Byron Kaye; Editing by Christopher Cushing)