BUZZ-UAE-based sanitary products maker Softcare shines in Hong Kong debut

Reuters
Nov 10
BUZZ-UAE-based sanitary products maker Softcare shines in Hong Kong debut

** Shares of UAE-based sanitary products maker Softcare Ltd 2698.HK jump to HK$36.80 in Hong Kong debut, up 40.5% from their offer price, and outpace a 0.3% gain in the benchmark Hang Seng Index .HSI

** Stock later trims gains to HK$35.44, but still up 35.3% from the offer price of HK$26.20 apiece, with 24.5 million shares worth HK$869.7 million ($111.97 million) changing hands

** The Africa, Latin America, and Central Asia markets focused baby diapers, training pants, sanitary napkins manufacturer sold 90.88 million shares in global offering, raising HK$2.38 billion to expand production capacity, upgrade production lines and to fund acquisitions

** Hong Kong public offering portion has been 1,813.77 times subscribed, while international offering portion is 34.33 times subscribed

($1 = 7.7675 Hong Kong dollars)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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