Local travel and car rental service provider Ying Hai Group today announced that it has been successfully listed on the Hong Kong Stock Exchange with its initial public offering (IPO) recording some 225 million shares sold. for a total of HK $ 51.1 million (US $ 6.5 million).
During its first day of trading, the Ying Hai Group – listed under stock code 8668 – recorded its highest price of HK $ 0.242 per share, with a closing price of HK $ 0.241 per share, or 0. 42% more than the final offer price.
Hong Kong financial group Lego Corporate Finance Limited acted as the sole sponsor of this share offering.
âToday’s successful listing of the group’s shares on the Hong Kong Stock Exchange will help us seize market opportunities. We will work with more hotels in the future, cooperate with operators and travel agents and expand the fleet to improve brand awareness and competitiveness, âsaid Group CEO and Chairman Cai Weizhen, after the enthronement.
Ying Hai is a licensed wholesale travel agent and car rental service provider in Macau that offers hotel accommodation, car rental and sale, airline tickets, and other related products and services. to travel.
It operates two travel agency services in Macau offering car rental services and said it plans to provide point-to-point cross-border transportation services between Hong Kong and Macau by the end of 2019.
Ying hai added that he plans to expand his fleet to meet the growing demand for versatile car rental services in the city and partner with more hotel operators to access mid-to-high rooms. range in order to attract business travelers and high spending. customers.
The group also said that in 2018 and the first four months of 2019, it had planned around 151,000 and 52,000 hotel rooms in more than 40 and 35 hotels, respectively.
The local company also provides its customers with diverse one-stop-shop products and services, including airline reservations, visa applications, travel insurance, room reservations, and ticket reservations for entertainment events, with the main focus being project to develop an online sales platform.