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Bloomberg
PT Softex Indonesia, a sanitary product maker backed by PE firm CVC Capital Partners, is planning an initial public offering that could raise as much as $500 million, according to people with knowledge of the matter.
The Tangerang-based company has met with potential advisers for a share sale in Indonesia that could happen as soon as this year, the people said, asking not to be identified because the information is private.
Deliberations are on-going, and CVC and the company could opt to sell the business instead, the people said. A representative at Softex confirmed the company is planning an IPO, without giving more details. A representative for CVC declined to comment. Founded in 1976, Softex sells its products in more than 35 countries.