News / IPO brings in HK$941m for TS Lines to finance network expansion

Photo: TS Lines

Taiwanese liner operator TS Lines’ initial public offering (IPO) on the Hong Kong Stock Exchange raised HK$941m ($121m) after its listing today.

The funds raised were, however, short of the $145m TS Lines had originally targeted.

The company issued 250m shares at between HK$3.50 and HK$4.50 each, with the final offer price at HK$4.18 (US$0.54) per share.

JP Morgan and China Merchants Securities were joint bookrunners for the IPO, which was subscribed 12.09 times, while the international offering was subscribed 2.22 times.

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