RRJ-backed China diaper maker plans HK IPO - report
AAB Group, a Chinese diaper maker backed by RRJ Capital, is said to be looking to raise as much as $300 million through an IPO on the Hong Kong Stock Exchange.
According Reuters, AAB plans to list in the first quarter of this year. The company expects to benefit from rising demand driven by a recent relaxation in China's one-child policy, which allows parents to have a second child if just one of the parents is an only child.
RRJ - the private equity firm founded by former Goldman Sachs banker Richard Ong - invested $80 million in AAB in September 2011 alongside CK Life Sciences. The investment was RRJ's third from its $2.3 billion debut fund which reached a final close in February the same year. RRJ since raised a $3.5 billion successor vehicle.
Based in Fujian province, AAB exports to more than 40 countries. It produces around 10 lines of baby diapers, sanitary napkins, baby bottles, wet wipes and adult diapers. Its mainland China operation employs around 100 people.
Bank of America Merrill Lynch, RaffAello Capital and UBS are said to be managing the share listing.
More on Greater China
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.