Read More
Chinese hygiene product firm Soft International kicked off retail book building today with a minimum investment of HK$3,030.3 for a board lot of 5,000 shares.
ADVERTISEMENT
SCROLL TO CONTINUE WITH CONTENT
A total of 250 million shares are set to be issued, with 10 percent for the retail tranche, aiming to raise approximately HK$150 million through its Hong Kong listing.
The offering price range is between HK$0.50 and HK$0.60 per share.
The company is expected to list on March 27, with financial services firm Sunny Fortune as the sole sponsor.
Soft International plans to use approximately 29.2 percent of the net proceeds to purchase machinery for establishing new production lines for infant and feminine care products and around 26 percent to acquire machinery for setting up two new non-woven fabric production lines.
In addition, about 17.1 percent will be used to strengthen branding, marketing and promotional activities, while around 17.7 percent will be allocated to warehouse upgrades and IT infrastructure investments. About 10 percent will be reserved for general working capital.
Established in 2010, Soft International primarily sells disposable hygiene and baby care products in mainland China and Russia. Approximately 39.6 percent of its revenue in the first nine months of 2024 was generated from Russia.
STAFF REPORTER
