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Life Travel & Tourist Service plans IPO

03/19/2018| 9:54:11 AM|

The Kaohsiung firm aims to add six outlets this year to its current 19 and hopes that its IPO will raise between NT$86.3 million and NT$103.56 million.

Life Travel & Tourist Service is scheduled to debut on the Taipei Exchange on April 16, becoming the fifth travel agency to list on the nation’s two main bourses.

Lion Travel Service trades on the Taiwan Stock Exchange, while Phoenix Tours International, Star Travel Corp and Ezfly International Travel Agency are listed on the over-the-counter Taipei Exchange.

Kaohsiung-based Life Travel posted a net income of NT$62.47 million (US$2.14 million) last year, a sixfold increase from NT$10.03 million in 2016, with earnings per share rising from NT$0.39 to NT$2.46.

Consolidated revenue increased 8.5 percent year-on-year to NT$6.39 billion last year, on the back of strong demand for the firm’s North Asia and China offerings as well as higher-priced products such as cruise ship tours and long-distance lines to North America and Europe, the company said on Thursday at a news conference in Taipei.

Life Travel is working on a capital increase scheme by issuing 3.45 million new shares, aiming to raise between NT$86.3 million and NT$103.56 million to replenish its working capital. Its initial public offering price might fall within the NT$25 to NT$30 range, Chinese-language media reports said.

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TAGS: Life Travel & Tourist Service | IPO
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