Ezfly International Travel Agency Co (易飛網國際旅行社) has set a price of NT$45 a share for its initial public offering (IPO) on the GRETAI Securities Market on Thursday, according to a company filing with the Taiwan Stock Exchange on Thursday last week.
The price means the company could raise NT$90 million (US$3 million) by issuing 2 million new shares, after shifting its listing from the smaller Emerging Stock Market (興櫃市場).
The Emerging Stock Market is a preparatory board for the nation’s two main bourses: the Taiwan Stock Exchange and the GRETAI Securities Market. Trading on the smaller board is restricted to securities firms, by means of negotiation, and therefore IPOs are not open to public subscription.
On Friday, Ezfly shares closed 4.65 percent higher at NT$82.67.
The Taipei-based online travel agent reported NT$1.39 billion in sales in the first 11 months of the year, up 16.73 percent from the same period last year, company data showed.
Net profit for the first three quarters totaled NT$41.19 million, an increase of 227 percent from NT$12.61 million last year, with earnings per share of NT$2.23 in the nine-month period, up from NT$0.72 last year, Ezfly said.
The company’s sales grew by a compound annual growth rate of more than 30 percent from 2010 to last year.
At a pre-IPO conference held on Dec. 10, the 14-year-old company said it is positive on the outlook for the next five years, expecting its revenue growth to be driven by both industry growth and an expansion of its market share in Southeast Asia and China.
FOUR NEW LISTINGS
Ezfly is one of four companies that are scheduled to start trading their shares either on the Taiwan Stock Exchange or the GRETAI Securities Market this week, shifting from Emerging Stock Market.
The other three are Lu Hai Holding Corp (六暉), which makes valve stems for tires, and drug makers Mycenax Biotech Inc (永昕生技) and Johnson Chemical Pharmaceutical Works Co (強生製藥).
Lu Hai is set to debut on the main bourse on Wednesday by issuing 75.4 million shares at NT$25 per share; Mycenax plans to raise NT$1.4 billion from the issue of 12.98 million new shares and also starts trading on the main bourse on Wednesday; while Johnson Chemical is scheduled to shift its shares to the GRETAI Securities Market on Wednesday.