Taiwanese carrier TS Lines launched its initial public offering in Hong Kong Thursday, looking to raise up to about $145m. The intra-Asia feeder specialist is floating nearly 251m shares at HK$3.50 to HK$4.50 apiece, according to a Thursday filing, of which 10% are being offered publicly in Hong Kong and 90% to international investors. TS Lines has secured Indigo Rainbow, Hung Chi-Li, Worldwide Logistics, Metro Shine, Wang Yi-Fen, and Crane Movement as cornerstone investors, which committed to subscribe for $63.9m worth of shares. Proceeds from the IPO will be used for two 7,000 teu newbuilds ordered earlier this year and a vessel chartering contract, container leasing, and general working capital needs. The world’s 20th largest liner, with 42 ships on the water, has had multiple attempts at listing since 2018. JP Morgan, China Merchants Securities, Yuanta Securities, Livermore, and Futu Securities are the joint bookrunners of the IPO. The company is expected to start trading on November 1. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsTaiwan