Softcare, a Dubai-based hygiene products company, kicked off bookbuilding today, asking for a minimum investment of HK$5,292.85 per board lot.
To be the first Middle East-headquartered firm going public in Hong Kong, Softcare plans to issue nearly 91 million shares, with 10 percent allocated for the retail tranche and 90 percent for international placement.
The offer price is set between HK$24.2 and HK$26.2 per share, aiming to raise up to HK$2.38 billion. Each board lot consists of 200 shares.
The company intends to allocate 71.4 percent of net proceeds to expand overall production capacity and upgrade production lines and about 11.6 percent for marketing and promotional activities.
Founded by a Chinese couple, the company focuses on the development, manufacturing, and sales of baby and feminine hygiene products in markets such as Africa, Latin America, and Central Asia.
