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Svenska Cellulosa AB SCA to float its joint venture in Australia

Monday, 2 Jun 2014 01:00am EDT 

Svenska Cellulosa AB SCA:Says, together with its Australian partner, Pacific Equity Partners (PEP), have decided to float their joint venture in Australia, New Zealand and Fiji on the Australian Securities Exchange (ASX).A draft of the prospectus for the initial public offering (IPO) was submitted on June 2 to the Australian Securities and Investment Commission (ASIC).Says the listing of the joint venture Asaleo Care (formerly SCA Hygiene Australasia) on the ASX is scheduled to take place in late June or early July.SCA intends to retain a shareholding in Asaleo Care.The Group to date owns 50 pct of the company.The stock market floatation will dilute SCA’s holding in the company.SCA’s ownership is expected to be about 33 pct following the IPO. 

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27 Nov 2015