SCA successfully floated its joint venture, Asaleo Care, in Australia, New Zealand and Fiji on the Australian Securities Exchange (ASX). Trading in the shares will commence on July 3.
In early June, SCA and its Australian partner, Pacific Equity Partners (PEP), announced that an IPO was planned for the joint venture Asaleo Care. The offering has been successful and from July 3 the Asaleo Care share will be traded on the Australian Securities Exchange (ASX).
SCA’s holding in Asaleo Care is now about 32.5%.
Asaleo Care manufactures and markets consumer tissue and Away-from-Home (AfH) tissue, diapers, feminine care products and incontinence care products. Leading brands include TENA, Tork, Sorbent, Libra and Treasures. In 2013, the company reported net sales of AUD 625 million (approx. SEK 3.9 billion) and operating profit of AUD 97 million (approx. SEK 610 million). The company has about 1050 full-time employees.
TENA and Tork are SCA’s leading global brands for incontinence products and AfH tissue, respectively. These two brands will continue to be owned by SCA but will be licensed to Asaleo Care for sales of products under these brands in Australasian markets.
SCA's Australian IPO successful