TS Lines received a lukewarm response to its Hong Kong stock listing, with its
shares trading below its issue price of HK$4.18 on its first trading day to
close at HK$4.10 on 1 November 2024 before rebounding by 5.12% to HK$4.31 on 4
Nov.
TSL shares currently trade at a 43% discount to its adjusted book value,
compared to the average discount of 15% for its main publicly listed peers
(excluding SITC that currently trades a 367% premium to book value).
The addition of TS Lines brings the number