Caissa Touristic announced on September 26 that the company’s board of directors has approved a revised plan for its private offering, in relation to targeted investors, issue amount and fundraising goal.
The new plan will not include Ningbo Caissa Sega Second Phase Equity Management and Ningbo Caissa Sega Fifth Phase Equity Management as investors, whereas Beijing Caissa Sega Investment Management has made a share-purchase agreement with Caissa Touristic on September 26.
The original fundraising target was RMB 8 billion, but lowered to RMB 7.208 billion in the revised plan. The company plans to allocate RMB 1.027 billion of the funds on its second-phase marketing project, RMB 847 million for building an instant service and security system for overseas customers, RMB 2.731 billion for the Caissa Cruise Sales Platform program and the remainder RMB 2.595 billion for the company’s international initiative of combining flight and tour operation.
China Securities Regulatory Commission (CSRC) reiterated its regulation rationale for fundraising programs on July 25, that the authority “does not encourage fundraising for supplementing cash or paying bank loan.” Caissa Touristic removed its previous fundraising purpose of “cash supplement” from its revised placement plan. (Translated by Jerry)