Xin Lang Cai Jing·2025-11-10 09:34Core Viewpoint - Leshu Comfort Limited successfully listed on the Hong Kong Stock Exchange with a base issuance scale of $307 million, potentially increasing to $353 million with full exercise of the greenshoe option [1][3]. Group 1: Company Overview - Leshu Comfort is a multinational hygiene products company focused on emerging markets in Africa, Latin America, and Central Asia, primarily engaged in the development, manufacturing, and sales of baby diapers, pull-ups, sanitary napkins, and wet wipes [6]. - The company has been operating in the African market for over 15 years and has established a significant sales network across more than 30 countries, becoming a leading brand in the baby and women's hygiene products sector [3][6]. - According to Frost & Sullivan, Leshu Comfort ranks first in the African market for baby diapers and sanitary napkins based on 2024 sales volume [6]. Group 2: Market Performance - The public offering portion of the listing achieved an oversubscription rate of over 1,800 times, while the international placement portion saw an oversubscription rate of over 34 times [3]. - The successful listing is seen as a milestone for Leshu Comfort, allowing the company to leverage international capital markets to build an international marketing network and create a global capital platform [3]. Group 3: Role of Citic Securities - Citic Securities acted as the joint sponsor, overall coordinator, joint global coordinator, joint bookrunner, and joint lead manager for the listing, showcasing its comprehensive service capabilities [4][5]. - The firm facilitated the rapid execution of the project, assisting Leshu Comfort in completing the hearing and listing process in a short timeframe [5]. - Citic Securities' global sales network helped Leshu Comfort conduct multiple investor communication meetings, attracting significant participation from top foreign and domestic long-term funds, as well as global top multi-strategy funds [5].