[ET Net News Agency, 30 May 2019] Tai Hing Group Holdings Limited, a multi-brand casual
dining restaurant group, today announced the details of its proposed listing on the Main
Board of The Stock Exchange of Hong Kong Limited (SEHK) under the stock code 06811.
The group intends to offer an aggregate of 250 million shares, 90% of which are for
international offering and 10% are for Hong Kong public offering. The indicative offer
price range is between HK$2.8 and HK$3.8 per offer share. After deduction of relevant
expenses and assuming an offer price of HK$3.3 per offer share and assuming the
over-allotment option is not exercised, the net proceeds are estimated at approximately
HK$767.1 million. Subscription for the offer shares must be for a minimum of 1,000 offer
shares at HK$3,838.29 per board lot of 1,000 offer shares.
The Hong Kong public offering will begin at 9:00 a.m. today and ends at 12:00 noon on 4
June 2019 (Tuesday). The final offer price and allotment results will be announced on 12
June 2019 (Wednesday).
44% of the proceeds will be used to open new restaurants under existing and newly
developed brands in Hong Kong and mainland China. 35% will be used for enhancement and
expansion of Hong Kong and mainland China Food Factories. 11% will be used for renovation
of existing restaurants in Hong Kong and mainland China. 10% will be used as general
working capital of the group. (RC)