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亞洲速運物流控股
Asia-express Logistics Holdings
Nominal: 0.187 RT Quote
Open-offer-subscription Rate: 196.2x One Lot Success Rate: 10%
COMPANY PROFILE

Asia-express Logistics Holdings is an established air cargo ground handling services provider in Hong Kong. Its air cargo ground handling services principally cover air cargo terminal operation; transportation; and warehousing and other value-added services. It utilises its full suite of services to deliver integrated solutions to global express carriers, air cargo terminal operators, freight forwarders and corporates domestically and regionally.

Having over 20 years of experience in the air cargo ground handling services industry with its headquarters in Hong Kong, it has extended its geographical coverage to Shenzhen, Guangzhou, Shanghai and Chengdu. According to the Frost and Sullivan Report, the Group was the third largest air cargo terminal operation services provider in Hong Kong, accounting for approximately 15.1% market share in 2018. It has been able to continuously secure contracts from Top Global Express Carrier for operation of its air cargo terminal inside AAT of the Hong Kong International for over 15 years.

Since 2006, the Group has also been providing such services to Top Global Express Carrier inside Shenzhen international express courier operations centre of the Shenzhen Bao’an International Airport.

The Group carried a large fleet of 168 self-owned transportation vehicles of various sizes and tonnages, ranging from below 5.5-tonnes light goods trucks, 5.5-tonnes to 9-tonnes medium goods trucks, 16-tonnes light heavy goods trucks and 24-tonnes or above heavy goods trucks to private cars. In addition, some of self-owned transportation fleet are registered with Intermodal Transshipment Facilitation Scheme in Hong Kong and Quick Pass mode in China for non-stop Guangdong-Hong Kong transportation.

The Group customers are mainly global express carriers, air cargo terminal operators, freight forwarders, corporates and individual customers primarily based or with operations in Hong Kong and the PRC.

BASIC INFORMATION
MarketHong Kong (GEM)
Business NatureTransportation
Websitewww.asia-expresslogs.com
Board Lot5,000
Registrar & Transfer OfficeTricor Investor Services
SHARE OFFER
No. of Offer Shares120m shares
No. of Placing Shares108m shares
No. of Public Offer Shares12.00m shares
Offer Price$0.42 - $0.58
Nominal ValueHK$ 0.01 each
Stock Code8620
Sole SponsorSouth China Capital
Joint Bookrunners and Joint Lead ManagersChina Tonghai Securities, Wealth Link Securities, South China Securities
Public Offer UnderwritersChina Tonghai Securities, Wealth Link Securities, South China Securities
TIME TABLE
Application PeriodMar 31 (Tue) - Noon, Apr 9 (Thu)
Price Determination DateOn or Before 5pm, Apr 9 (Thu)
Result Announcement DateOn or Before Apr 17 (Fri)
Dispatch of Shares and Refund ChequesOn or Before Apr 17 (Fri)
Dealings in Shares commence onApr 20, 2020. (Mon)
Reallocation of Shares Offered
Times of HK Offer Shares Subscription15X - 50X50X - 100XOver 100X
% of total shares reallocated to HK Offer30%40%50%
DIRECTORS
ExecutiveChan Le Bon (Chairman), Chan Yu
Non-ExecutiveChoy Wing Hang William
Independent Non-ExecutiveFu Lui, Chan Chi Ho, Chui Sin Heng
MAJOR SHAREHOLDERS
Director Chan Le Bon68.8%
Director Choy Wing Hang William6.2%
INCOME STATEMENT (HK$'000)
(Year ended Mar 31)
2020 *20192018
Revenue160,167351,137321,885
Pre-Taxed Profit4,2502,2878,614
Attributable Profit for the period3,384(149)6,438
EPS - Basic (cents)0.90(0.04)1.94
* For the six months ended September 30, 2019.
OFFER STATISTICS (HK$)
Offer Price$0.42 - $0.58
Capitalization$202m - $278m
Unaudited pro forma adj NAV / share$0.15 - $0.19
USE OF PROCEEDS
Assuming the offer price being at the mid-point of $0.50, the net proceeds raised would be HK$17.8m, of which:
* $6.2m (34.6%) to acquire new trucks for expanding and upgrading transportation fleet;
* $4.4m (24.7%) to expand labour force by recruiting operational staff;
* $3.7m (21.0%) to acquire x-ray screening systems;
* $3.5m (19.7%) for acquire x-ray screening systems.
CHART
IPO NEWS
No related information.
RELATED STOCK COMPARISON
Code Name Nominal Change %Change
01737A & S GROUPdown0.097-0.005-4.902%
08620AE LOGISTICSup0.1870.0063.315%
Remark: The above information is referenced from the prospectus.
  All data is calculated from the non- exercise rights(if applicable).
  Quote data is at least 15-min delayed,last updated: 03/07/2020 17:58
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