The firm behind brands including Jissbon condoms is considering a Hong Kong initial public offering that could raise about $300 million, according to people familiar with the matter.
(Bloomberg) — The firm behind brands including Jissbon condoms is considering a Hong Kong initial public offering that could raise about $300 million, according to people familiar with the matter.
Lifestyles Healthcare’s China business, which was separated from the sexual wellness company’s global operations when it was sold last year, is in talks with potential advisers for a listing as soon as this year, the people said.
Jissbon’s name is a Chinese translation of fictional British spy James Bond, an attempt to cash in on the popularity of a secret agent who became almost as famous for his sexual exploits as his missions to save the world.
Lifestyles Healthcare was created when a consortium of investors bought the condom and lubricants maker from Australia’s Ansell Ltd. for $600 million in 2017. In 2020, Hillhouse Capital, Boyu Capital and CareCapital Partners acquired a 40% stake in Lifestyles Healthcare for $200 million, according to an exchange filing at the time.
The current owners, which also include Humanwell Healthcare Group Co. and Trustar Capital, retained the China business and sold the rest to Chicago-based buyout firm Linden Capital Partners in December for an undisclosed amount, according to a press release.
Deliberations are at an early stage and details of the offering such as size and timing could change, the people said. A representative for Trustar declined to comment, while Humanwell and Jissbon didn’t immediately respond to requests for comment.Â
–With assistance from Cathy Chan and Jinshan Hong.
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