HONG KONG, CHINA – Media OutReach – 11 May 2018 – Tsit Wing International Holdings Limited (the “Tsit Wing”, together with its subsidiaries, the “Group”; stock code: 2119), an integrated B2B coffee and black tea solutions provider, announces its successful listing on the Main Board of The Stock Exchange of Hong Kong Limited (“SEHK”) today.
The closing price of the Company’s shares was HK$2.37 per share, which was approximately 19.7% higher than the final offer price of HK$1.98 per share. The highest share price of the day was HK$2.72 per share. On its first trading day, trading volume of the shares of the Company reached approximately 377 million with a total turnover of approximately HK$877 million.
BOCI Asia Limited is the Sole Global Coordinator. BOCI Asia Limited and BOSC International Company Limited are the Joint Sponsors. BOCI Asia Limited, DBS Asia Capital Limited, Kingsway Financial Services Group Limited, Future Land Resources Securities Limited and VBG Capital Limited are the Joint Bookrunners and/or Joint Lead Managers.
Commenting on the trading debut, Mr. Wong Tat Tong, Chairman, Executive Director & Chief Executive Officer of the Company, said, “The successful listing of the Company’s share on the Main Board of SEHK is a proof of investors’ confidence in the development and future prospects of our coffee and black tea solutions business. We strive to capitalise on the international financing platform in Hong Kong, in order to further enhance our brand recognition and to capture market opportunities in the PRC and Southeast Asia market.”
About Tsit Wing International Holdings Limited
Tsit Wing is a leading integrated B2B coffee and black tea solutions provider in Hong Kong, Macau and the PRC with 85-year heritage. In 2017, coffee sold by the Group can be made into most 337.7 million cups of coffee per year; tea sold can be made into most 403.2 million cups of milk tea per year. Tsit Wing commenced its frozen meat business in Hong Kong and the PRC from 2013.
According to the Frost & Sullivan Report, Tsit Wing is the largest B2B coffee and black tea solutions provider in Hong Kong in 2016 with 24.5% of the market share in terms of B2B revenue.