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Australia's Asaleo to raise $617 mln after pricing IPO at middle of range -sources
June 24, 2014 / 7:17 AM / in 3 years

Australia's Asaleo to raise $617 mln after pricing IPO at middle of range -sources

SYDNEY, June 24 (Reuters) - Toilet paper and tissue 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 its indicative range, people familiar with the matter said on Tuesday.

Asaleo Care, jointly owned by Swedish hygiene and forest products company Svenska Cellulosa SCA and Australian private equity firm Pacific Equity Partners (PEP), set the price at A$1.65 a share, the middle of its A$1.55 to A$1.80 range, said two people familiar with the matter.

The people declined to be named because the information was not yet public.

SCA planned to cut its ownership of Asaleo to around one-third from half as part of the deal, while PEP will exit its stake completely.

$1 = 1.0639 Australian Dollars Reporting by Byron Kaye

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