JAKARTA (TheInsiderStories) – Indonesian sanitary producer, PT Softex Indonesia, supported by the global investment company CVC Capital Partners, plans to conduct an Initial Public Offering (IPO) and hopes to raise a fund of US$500 million, citing people familiar with the matter.
The company is reported to have contacted possible advisors about the plan, which could still be changed, because CVC and Softex might decide to direct sales instead, the source said.
While Softex management confirmed the company’ IPO plan without providing further details. And CVC representatives also did not comment on this issue.
But according to available information, the Tangerang – based company has met with potential advisors for the sale shares that could occur soon after this year.
Founded in 1976, Softex sells its products in more than 35 countries, including developing countries where clean feminine hygiene products are often considered luxurious.
In addition to selling the same sanitary branded products, Softex also made diapers called “Happy Nappy” and wet wipes which began around 1994.
In Indonesia, Softex claims to be the second-largest player in the overall baby diaper and diaper market, and the 3rd largest player in the world for the women’s care market.
Softex is supported by 105 distributors covering more than 20,000 modern retail outlets and more than 100,000 traditional retail outlets throughout Indonesia.
Meanwhile, CVC is a global investment company headquartered in the United Kingdom with distribution in 24 offices in the United States, Europa and Asia, with one of its bases in Luxembourg.
The company that was established since 1981 has an asset under management (AUM) or managed funds currently reaching US$75 billion or around Rp1,080 trillion, according to the company.
With a strong commitment to carry out sustainable development programs in sustainability and reducing carbon footprint, Softex has achieved the 2nd year Sustainability certification from The Planet Mark, an internationally recognized and trusted certification.
Through Sustainability Certification, Softex has created a positive approach to the development of sustainability and resource efficiency in business practices, including energy savings in organizations and provides assurance that the company has proactively handled its environmental impacts by measuring and reporting carbon footprints.
Written by Daniel Deha, Email: firstname.lastname@example.org