June 27, 2014 / 2:25 AM / 3 years ago

UPDATE 1-Australia's Asaleo debuts at premium to issue price

(Updates shares, adds details of listing and broader listing market)

SYDNEY, June 27 (Reuters) - 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 the offer.

$1 = 1.0639 Australian Dollars Reporting by Byron Kaye; Editing by Stephen Coates

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