| Stock Name | TS Lines |
|---|---|
| Stock Code | 02510 |
| Company Full Name | T.S. Lines Limited |
| Industry | 貨運物流 |
| Principal Activities | 公司是一家專注于亞太地區且發展迅速并最具盈利能力的貨柜航運公司之一。 |
| Listing Date | 2024-11-01 |
| Listing Rules Era | Old Rules |
| Listing Rules Chapter | To be extracted |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 臺灣臺北市敦化北路167號6樓 |
| Business Address (Hong Kong) | To be extracted |
| Place of Incorporation | To be extracted |
| Listing Method | To be extracted |
| Listing Board | Main Board |
| Website | https://www.tslines.com/hk |
| Share Registrar | 香港中央證券登記有限公司 (Computershare Hong Kong Investor Services Limited) |
| Registrar Contact | (852)2862 8628 |
| A-Share/US Dual Listing | No |
| Offering Mechanism | To be extracted |
|---|---|
| Offer Price | HK$ 4.18 / shares |
| Offer Price Range | To be extracted |
| Lot Size | To be extracted |
| Entry Threshold | To be extracted |
| Par Value | To be extracted |
| Offer Period | To be extracted |
| Global Offering Shares | To be extracted |
| HK Public Offer Shares (Initial) | To be extracted |
| Public Offer Lots (Initial) | To be extracted |
| International Placing Shares (Initial) | To be extracted |
| Offer Ratio | To be extracted |
| Total Shares Post-IPO | To be extracted |
| Greenshoe (Over-allotment Option) | No |
| Stabilizing Manager (Greenshoe) | — |
| Cornerstone Share | 47.3% |
| Clawback Tiers | To be extracted |
| Reallocation Option | No |
| Total Global Offering Size | HK$ 104,892,920 |
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 30,000 | HK$ 125,400 |
| 1 lots | 35,000 | HK$ 146,300 |
| 1 lots | 40,000 | HK$ 167,200 |
| 1 lots | 45,000 | HK$ 188,100 |
| 1 lots | 50,000 | HK$ 209,000 |
| 2 lots | 60,000 | HK$ 250,800 |
| 2 lots | 70,000 | HK$ 292,600 |
| 2 lots | 80,000 | HK$ 334,400 |
| 3 lots | 90,000 | HK$ 376,200 |
| 3 lots | 100,000 | HK$ 418,000 |
| 5 lots | 150,000 | HK$ 627,000 |
| 6 lots | 200,000 | HK$ 836,000 |
| 8 lots | 250,000 | HK$ 1,045,000 |
| 10 lots | 300,000 | HK$ 1,254,000 |
| 11 lots | 350,000 | HK$ 1,463,000 |
| 13 lots | 400,000 | HK$ 1,672,000 |
| 15 lots | 450,000 | HK$ 1,881,000 |
| 16 lots | 500,000 | HK$ 2,090,000 |
| 20 lots | 600,000 | HK$ 2,508,000 |
| 23 lots | 700,000 | HK$ 2,926,000 |
| 26 lots | 800,000 | HK$ 3,344,000 |
| 30 lots | 900,000 | HK$ 3,762,000 |
| 33 lots | 1,000,000 | HK$ 4,180,000 |
| HK Market Cap | HK$ 14.51B |
|---|---|
| Analysis Result | Already included in Stock Connect (both, shenzhen, shanghai) |
| Market Cap (at Offer Price) | To be extracted |
|---|---|
| Pre-IPO Valuation (Last Round) | Not disclosed |
| P/E Ratio | Not disclosed |
| Profit/Loss Status | To be extracted |
| Period-End Cash Balance | USD 716.3 million |
| Listing Expenses | ~HK$ 107,700,000 |
| Listing Expenses / Funds Raised | ~10.7% |
| Total Pre-IPO Investment | To be extracted |
| First Day Close | HK$ 4.1 |
|---|---|
| First Day Open | HK$ 4.18 |
| First Day Change | -1.91% |
| First Day Volume | 44695000.0 |
| First Day Turnover | 185626000.0 |
| Use of Proceeds | 1、約75.0%或672.0百萬港元將用于于2024年4月訂購的兩艘7,000 TEU新船舶及訂立的船舶租賃合約； 2、約15.0%或134.4百萬港元將用于租用貨柜； 3、約10.0%或89.6百萬港元將用于營運資金及其他一般公司用途。 |
|---|
| Role | Institution |
|---|---|
| Legal Advisor to Company |
安理谢尔曼思特灵律师事务所 海问律师事务所 国际通商法律事务所 Kim & Chang 霍金路伟律师行 |
| Legal Advisor to Sponsors/Underwriters |
Herbert Smith Freehills Kramer King & Wood |
| Auditor and Reporting Accountant | 毕马威会计师事务所 |
| Industry Advisor | 德路里航运咨询有限公司 |
| Receiving Banks | CMB Wing Lung Bank Limited |
| # | Investor Name | Investment Amount | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|---|
| 1 | Crane Movement Investment Limited | 46,623,720 HKD | — | 4.44% | — | 6 months | 2025-05-01 |
| 2 | Indigo Rainbow Limited | 116,567,660 HKD | — | 11.11% | — | 6 months | 2025-05-01 |
| 3 | Metro Shine Group Limited | 69,939,760 HKD | — | 6.67% | — | 6 months | 2025-05-01 |
| 4 | 洪绮励 | 101,022,240 HKD | — | 9.63% | — | 6 months | 2025-05-01 |
| 5 | 环世物流控股香港有限公司 | 99,989,780 HKD | — | 9.53% | — | 6 months | 2025-05-01 |
| 6 | 王意分 | 62,169,140 HKD | — | 5.93% | — | 6 months | 2025-05-01 |
| Chairman | 陳德勝 |
|---|---|
| Company Secretary | 陳仲基 |
| Major Shareholders & Holdings | Vision Investments Limited(37.49%),Prevalence Holding Limited(10.71%),TS Investment Limited(9.82%),Providence Holding Limited(8.48%),AM Holding Limited(8.48%),Kentship Holding Limited(5.92%) |
|---|
市场情绪
The public offer saw moderate enthusiasm with an oversubscription ratio of 12.09 times, leading to an overall hit rate of 44.08%, meaning nearly half of the 6,861 valid applicants received at least one lot. No price range was disclosed, but the final price of HKD 4.18 per share, with a high entry threshold of about HKD 125,400 per lot, may have limited retail participation. The lack of clawback (无回拨) indicates that the public offer was not increased despite the oversubscription, suggesting the company and underwriters did not see excessive demand. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
申购档位分析
Detailed tier distribution data is not available for this IPO, making it impossible to analyze specific anomalies or broker fee efficiency. However, given the moderate oversubscription and a high overall hit rate of 44.08%, it is likely that success rates across A-tiers were relatively uniform, and the 甲尾/乙头 boundary inefficiency may have been less pronounced. Investors should consult the official allocation results for a full tier breakdown. (This is AI-generated commentary. Data may contain errors or omissions; verify against official HKEX filings. Not financial advice.)
申购人群画像
The demographic data for this IPO is either incomplete or not disclosed, with no breakdown of mainland versus Hong Kong participants or other characteristics. Without this information, it is impossible to assess participation trends or regional concentration for 德翔海运. (This is AI-generated commentary based on limited data. Not financial advice.)
