[ET Net News Agency, 18 June 2019] Tu Yi Holding Company Limited (01701), an outbound
travel products and service provider in China, said it plans to offer an aggregate of 250
million shares publicly in Hong Kong, including 225 million shares for an international
placement (subject to reallocation and over-allotment option) and 25 million shares for a
Hong Kong public offer.
The indicative offer price range is set between HK$0.52 and HK$0.68 per share.
Assuming an offer price of HK$0.60 (being the mid-point of the offer price range) and
after deducting underwriting commission and other related expenses, net proceeds from the
global offering are estimated to be HK$105 million.
The Hong Kong public offer started today and will end at noon on 21 June. The final
offer price and the allotment results will be announced on or by 27 June. Trading of the
group's shares is expected to commence on the main board of the stock exchange on 28 June.
Innovax Capital Limited is the sole sponsor of this listing, while Innovax Securities
Limited and Crosby Securities Limited are the joint global coordinators. Innovax
Securities Limited, Crosby Securities Limited, Mason Securities Limited, BOA International
Securities Limited, and Haitong International Securities Company Limited are the joint
bookrunners and joint lead managers.
The group and the joint global coordinators have entered into cornerstone investment
agreements with two cornerstone investors, namely Navibell Venture Corp. and Mr. Sheng
Sen. Both parties have agreed to subscribe for the offer shares of HK$25 million and HK$2
million, respectively. (KL)