HONG KONG, CHINA - Media OutReach - June 28, 2018 - CTEH INC. ("CTEH" or the "Company", together with its subsidiaries, the "Group"), a leading air ticket consolidator, travel business process management service provider and travel products and services provider in Canada, announces its successful listing on the Main Board of The Stock Exchange of Hong Kong Limited ("SEHK") today.
The closing price of the Company's shares was HK$0.355 per share. The highest share price of the day was HK$0.45 per share. On its first trading day, trading volume of the shares of the Company reached approximately 408.7 million with a total turnover of approximately HK$165.3 million.
Lego Corporate Finance Limited is the Sole Sponsor. Lego Securities Limited is the Sole Global Coordinator and Joint Bookrunner, while Kingsway Financial Services Group Limited is a Joint Bookrunner and Joint Lead Manager. China Galaxy International Securities (Hong Kong) Co., Limited, Pacific Foundation Securities Limited, Future Land Resources Securities Limited and VMS Securities Limited are the Joint Lead Managers.
Mrs. Rita Pik Fong Tsang, Chairperson and Executive Director of the Group said, "The successful listing of the Company's share on the Main Board of SEHK is a proof of investors' confidence in the development and future prospects of our business. Looking forward, we strive to further increase our market share in the respective business segments by expanding customer base. The Group will continue to implement marketing initiatives to enhance brand recognition and awareness."
Ms. Annie Shuk Fong Tsu, Chief Executive Officer and Executive Director of the Group said, "The successful listing of the Company's share on the Main Board of SEHK marks a major milestone for CTEH INC. The Group will continue to upgrade our existing information technology system and focus on operational efficiency, in order to enhance our competiveness in the industry, as well as to maximize returns of shareholders and investors."
About CTEH INC.
CTEH INC. is an air ticket consolidator, travel business process management service provider and travel products and services provider in Canada with more than 40 years of operating history. The Group is mainly engaged in three businesses, including travel business process management, air ticket distribution as well as travel products and services in which they design, develop and sell package tours. The Group has a large and diversified customer base consisting of over 850 travel agents. According to the CIC Report, the Group ranked top three with a market share of approximately 31.3% in the air ticket consolidation market in Canada, in terms of sales volume of air tickets in 2017, and also ranked top three with a market share of approximately 14.9% in travel business process management market in Canada, in terms of service revenue in 2017.