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LONDON May 28 Belgian hygiene product company Ontex is to list on the Euronext Brussels exchange, the firm said on Wednesday, in a deal which two sources familiar with the matter said would give the business a value of at least 1.2 billion euros ($1.6 billion).
Ontex said it would sell 325 million euros of new shares and an as-yet unconfirmed number of existing shares to institutional and retail investors in order to pay down debt.
The company, which has been owned by private equity firm TPG and Goldman Sachs since 2010 and makes products such as baby diapers, is to list at least 25 percent of its issued share capital.
The listing is being led by Bank of America Merill Lynch and Goldman Sachs. UBS and JP Morgan are bookrunners.
The firm had adjusted core earnings (EBITDA) of 174 million euros in 2013. ($1 = 0.7345 Euros) (Reporting by Freya Berry; editing by Clare Hutchison)