Core Viewpoint - The company, 乐舒适 (02698), is set to launch an initial public offering (IPO) from October 31 to November 5, 2025, aiming to raise approximately HKD 2.141 billion for various strategic initiatives [1][2]. Group 1: IPO Details - The company plans to globally offer 90.884 million shares, with 10% allocated for public sale in Hong Kong and 90% for international sale, subject to reallocation [1] - The proposed share price ranges from HKD 24.2 to HKD 26.2, with trading expected to commence on November 10, 2025 [1] - The company has secured cornerstone investment agreements totaling approximately USD 139 million from various investors [1] Group 2: Use of Proceeds - Assuming a share price of HKD 25.20 and no exercise of the over-allotment option, about 71.4% of the net proceeds will be used to expand overall capacity and upgrade production lines [2] - Approximately 11.6% is earmarked for marketing and promotional activities in Africa, Latin America, and Central Asia [2] - About 4.7% will be allocated for strategic acquisitions in the hygiene products sector [2] - A small portion, around 0.4%, is intended for upgrading the CRM system and implementing it across various operations [2] - Approximately 2.6% will be used to hire management consulting firms for market and product analysis [2] - The remaining 9.3% is designated for working capital and general corporate purposes [2] Group 3: Company Performance - The company has experienced significant revenue growth, with revenue increasing from USD 320 million in 2022 to USD 411.4 million in 2023, representing a 28.6% increase [3] - Revenue is projected to rise further to USD 454.4 million in 2024, marking a 10.5% increase [3] - Net profit surged from USD 18.4 million in 2022 to USD 64.7 million in 2023, a remarkable increase of 251.7% [3] - For the four months ending April 30, 2025, net profit is expected to reach USD 3.11 million, up 12.5% from USD 2.77 million in the same period of 2024 [3] Group 4: Market Position - The company is a multinational hygiene products firm focusing on emerging markets in Africa, Latin America, and Central Asia, primarily producing baby diapers, pull-ups, sanitary pads, and wet wipes [2] - According to Frost & Sullivan, the company ranks first in market share for baby diapers (20.3%) and sanitary pads (15.6%) in Africa based on 2024 sales volume [2] - The company holds the second position in revenue market share for baby diapers (17.2%) and sanitary pads (11.9%) in Africa for 2024 [2]
跨国卫生用品公司乐舒适启动港股招股 基石阵容豪华 南方基金、富国基金、易方达等机构认购1.39亿美元