Softcare clears HKEX hearing for US$300 mln Hong Kong IPO

Dubai-headquartered baby diaper maker Softcare has cleared a listing hearing for an initial public offering in Hong Kong that reportedly could raise about US$300 million (HK$2.34 billion).
The company, which generates nearly all of its revenue from African markets, has begun pre-marketing the deal.
Founded in 2009, Softcare produces and sells baby diapers, pull-up pants, sanitary pads and wet wipes under brands including Softcare, Veesper, Maya, Cuettie and Clincleer. Its products are sold in more than 30 countries across West, East and Central Africa.
In the first four months of 2025, the company’s profit rose 12.5 percent year-on-year to US$31.1 million, while revenue climbed 15.5 percent to US$161 million, with Africa accounting for around 97 percent of total sales.
Softcare ranked first in Africa’s baby diaper and sanitary pad markets by sales volume last year, with market shares of 20.3 percent and 15.6 percent, respectively, and second by revenue with 17.2 percent and 11.9 percent, according to its filings.
STAFF REPORTER