Lion Travel ready to list on Emerging Stock Market

By Amy Su  /  Staff reporter

Thu, Oct 18, 2012 - Page 13

Lion Travel Service Co Ltd (雄獅旅行社), one of the nation’s leading travel agencies, is set to list on Taiwan’s Emerging Stock Market (興櫃市場) on Tuesday ahead of its listing on the Taiwan Stock Exchange (TWSE) in the first half of next year at the earliest.

Local securities regulations require a company to be listed as an emerging stock for no less than six months before it goes public on the main board or the over-the-counter (OTC) market.

Lion Travel would become be the nation’s second listed travel agency once it starts trading on the main bourse, following Phoenix Tours International Inc (鳳凰國際旅行社).

Continuous sluggish economic sentiment has not affected Lion Travel’s sales performance this year, president Albert Pei (裴信祐) said on the sidelines of a press conference to promote the nation’s largest international travel show.

The annual Taipei International Travel Fair is scheduled to begin on Friday next week, with a total of 850 tourism-related companies occupying more than 1,000 booths in the four-day fair, organizers said.

“The rise in the sentiment for vacation tours helped hold the company’s sales this year,” Pei said.

Since Taiwan was granted entry to the US Visa-Waiver Program, Pei expected tourist numbers to the US to show significant growth next year, boosting the company’s sales and profitability. The company will launch a new tour to the western US at the travel fair, Pei added.

Lion Travel posted NT$55.69 million (US$1.9 million), or NT$1.01 per share, in net profit in the first half of this year, up from NT$40.56 million, or NT$0.96 per share, recorded during the same period last year, company financial data showed.

Revenue totaled NT$5.92 billion in the first six months of the year, up 19.53 percent from a year earlier, statistics showed.

Phoenix Tours president Anthony Liao (廖文澄) shared Pei’s views by expecting the US Visa-Waiver Program to increase the number of Taiwanese holidaying in the US by 30 percent next year.