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02510 德翔海運
TS LINES
Listing Date2024/11/01    Listing in 2 Days
Listing Price--
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
MarketHong Kong (Main Board)
Business NatureTransportation
Major Business AreaAsia Pacific
Board Lot1000
GLOBAL OFFERING
No. of Offer Shares250.94M shares
No. of International Offer Shares225.85M shares
No. of HK Offer Shares25.09M shares
Offer Price$3.50 - $4.50
Stock Code2510
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 PeriodOct 24 (Thu) - noon, Oct 29 (Tue)
Price Determination DateOct 30 (Wed)
Result Announcement DateOn or before Oct 31 (Thu)
Result Announcement DateOn or before Oct 31 (Thu)
Result Announcement DateOn or before Nov 01 (Fri)
Dealings in Shares commence onNov 01, 2024. (Fri)
Reallocation of Shares Offered
Times of HK Offer Shares Subscription15X - 50X50X - 100XOver 100X
% of total shares reallocated to HK Offer30%40%50%
Sales Statistics (HKD)
Offer Price$3.50 - $4.50
Capitalization5.78B - 7.43B
NAV / share ($)$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
Remark: The above information is referenced from the prospectus.
  All data is calculated from the non- exercise rights(if applicable).
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