02510 德翔海運
TS LINES
TS LINES
| Listing Date | 2024/11/01 Listing in 2 Days |
| Listing Price | -- |
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IPO Detail
COMPANY PROFILE
T.S. Lines Limited is an Asia Pacific Region focused container shipping company. The Group ranked the 21st in terms of fleet size among the container shipping companies globally with a market share of 0.3% as of January 1, 2024 and ranked the sixth in terms of fleet size among the Asia Pacific Region focused container shipping companies with a market share of 2.3% in December 2023.
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As of April 30, 2024, the Group container shipping network covered a total of 21 countries and regions and 56 major ports globally. In the Asia Pacific Region, it operated services covering 16 countries and regions. Within the Asia Pacific Region, it has a strong focus on and provide frequent services originating from the Greater Bay Area in China. It operated nine independent services, 22 joint services, 15 services through slot exchange arrangements and two services through slot chartering arrangements
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As of April 30, 2024, the Group had a total of 46 vessels (with the exclusion of any vessels which were chartered out by the Group), consisting of 36 owned vessels and 10 chartered-in vessels, with a total capacity of 111,011 TEU. The Group’s diversified customer base includes primarily small and medium-sized customers, including freight forwarders and BCO customers.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Transportation |
| Major Business Area | Asia Pacific |
| Board Lot | 1000 |
GLOBAL OFFERING
| No. of Offer Shares | 250.94M shares |
| No. of International Offer Shares | 225.85M shares |
| No. of HK Offer Shares | 25.09M shares |
| Offer Price | $3.50 - $4.50 |
| Stock Code | 2510 |
| Sponsor(s) | J.P. Morgan Securities (Far East) Limited, China Merchants Securities (HK) Co., Limited |
| Underwriter(s) | J.P. Morgan Securities (Asia Pacific) Limited, China Merchants Securities (HK) Co., Limited, Futu Securities International (Hong Kong) Limited, Yuanta Securities (Hong Kong) Company Limited, Livermore Holdings Limited |
TIME TABLE
| Application Period | Oct 24 (Thu) - noon, Oct 29 (Tue) |
| Price Determination Date | Oct 30 (Wed) |
| Result Announcement Date | On or before Oct 31 (Thu) |
| Result Announcement Date | On or before Oct 31 (Thu) |
| Result Announcement Date | On or before Nov 01 (Fri) |
| Dealings in Shares commence on | Nov 01, 2024. (Fri) |
Reallocation of Shares Offered
| Times of HK Offer Shares Subscription | 15X - 50X | 50X - 100X | Over 100X |
| % of total shares reallocated to HK Offer | 30% | 40% | 50% |
Sales Statistics (HKD)
| Offer Price | $3.50 - $4.50 |
| Capitalization | 5.78B - 7.43B |
| NAV / share ($) | $8.86 - $9.01 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 4.00, the net proceeds raised would be HKD 896.00M, of which |
| 50% : Two new 7,000 TEU vessels ordered in April 2024 |
| 25% : Vessel chartering contracts |
| 15% : Container leasing |
| 10% : Working capital |
Related Document
| Prospectus |  Chinese Version | English Version |
| Remark： | The above information is referenced from the prospectus. |
| All data is calculated from the non- exercise rights(if applicable). |
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Subscription --
Result Announcement --
Listing --Offer Price︰--
| Currency | : |
| Listing Price | : |
| Board Lot | : |
| Admission Fee* |
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| Subscribing Lot | : |
| Subscribing Fee | : |
| Subscribing Amount | : |
*Admission fees include brokerage of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.005% and FRC transaction levy of 0.00015% (i.e. 1.0077% in total).