Ying Hai Group Holdings Company Limited Announces Its Subscription Results

Recorded approximately 53.9 times of over-subscription for its Hong Kong public offering


 - 25
September 2019 -
Ying Hai Group Holdings
Company Limited
Hai Group", together with its subsidiaries, the "Group"; stock code:
8668), a wholesale licensed
travel agent and a car rental services provider based in Macau
, announced the subscription results for its shares
(the "Shares") under the Hong Kong public offering (the "Public Offer") and international
placing (the "Placing",
collectively, the "Share Offer"). The Shares under the Public Offer have been
very significantly over-subscribed by approximately
53.9 times. The offer price per Share has been set at HK$0.24 per Share. Dealings in the Shares on the GEM of The Stock Exchange of
Hong Kong Limited ("SEHK") is expected to commence on 26 September 2019 (Thursday).


Based on

offer price of HK$0.24 per Share, the net proceeds from the
Share Offer to be received by the Company (after deducting underwriting fees
and estimated expenses in connection with the
Share Offer) is estimated to be approximately HK$41.0 million.


Ying Hai Group intends to use these net proceeds
for the following purposes: 1) approximately
52.9% will be
used for expansion of its car fleet
; 2) approximately 16.2% will be used for expansion of its
business by cooperating with more hotel operators; 3) approximately 17.4% will
be used for increasing its marketing and expansion of its sales channel; 4)
4.1% will be used for renovation of a new office; 5) approximately 6.6% will be
used for expansion of its
6) approximately 2.8% will be used as its general working capital.


Lego Corporate Finance Limited is the
Sole Sponsor. Lego Securities Limited is the sole bookrunner. Lego Securities
Limited and Great Roc Capital Securities Limited are the joint lead managers.


Mr. Choi Wai Chan, Chairman, Chief
Executive Officer and Executive Director of Ying Hai Group Holdings Company
said, "We
believe that the
result of the Share Offer has affirmed market's confidence in our future
The travel
agent industry is expected to continue its growth, driven by the Macau
government's initiatives and upgraded infrastructure, including the opening of
the Hong Kong -- Zhuhai --
Macao Bridge
. Listing
on the GEM of SEHK
enables the Group to further enhance its corporate profile and competitiveness, to
generate greater returns for our shareholders."

About the Group

Ying Hai Group
is a wholesale licensed travel agent and a car rental services provider based
in Macau offering to its customers a range of products and services which
include hotel rooms, car rental services and sales and provision of air tickets
and other ancillary travel-related products and services. It is one of the two
companies in Macau which is able to provide both travel agent services and
self-drive rent-a-car services.


For FY2017,
FY2018 and 4M2019, the Group sold and distributed approximately 124,000, 151,000
and 52,000 hotel rooms of over 40, 40 and 35 hotels in Macau, respectively, to
accommodate the needs of various types of customer.
During the
Track Record Period, the Group sold and distributed approximately 52,000,
63,000 and 19,000 hotel rooms of L'Arc Hotel Macau.

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