TS Lines to raise up to $145m from Hong Kong IPO

TS Lines will raise between $113m to $145m from its initial public offering (IPO) in Hong Kong, with trading of its shares to start on 1 November 2024. The company will offer 250.94m shares or 15.2% of its total shares to be priced at between HK$3.50 to HK$4.50 per share. Following the IPO, the company's founder Chen Teh Sheng (TS Chen) will retain 37.49% of the company's shares along with a further 37.49% owned by General Sharafuddin Alsayed Mohd Yousif Sharaf who has been a controlling shareho