hk-ipo/data/extracted_text/02510/allotment_results_2024-10-31_2024103101844.txt

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Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited (the “Stock Exchange ”)
and Hong Kong Securities Clearing Company Limited ( “HKSCC ”) take no responsibility for the contents of this
announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability
whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this
announcement.
Unless otherwise defined in this announcement, capitalized terms used herein shall have the same meanings as those
defined in the prospectus dated October 24, 2024 (the “Prospectus ”) of T.S. Lines Limited (the “Company ”).
This announcement is for information purposes only and does not constitute an offer or an invitation to induce an
offer by any person to acquire, purchase or subscribe for any securities of the Company. This announcement is not a
prospectus. Potential investors should read the Prospectus for detailed information about the Company and the Global
Offering described below before deciding whether or not to invest in the Offer Shares. Any investment decision in
relation to the Offer Shares should be taken solely in reliance on the information provided in the Prospectus.
This announcement is not for release, publication, distribution, directly or indirectly, in or into the United States
(including its territories and possessions, any state of the United States and the District of Columbia). This
announcement does not, and is not intended to, constitute or form a part of any offer to sell or solicitation to purchase
or subscribe for any securities in the United States. The Offer Shares have not been, and will not be, registered under
the United States Securities Act of 1933, as amended (the “U.S. Securities Act ”) or securities law of any state or
other jurisdiction of the United States and may not be offered, sold, pledged or otherwise transferred within the United
States, except pursuant to an available exemption from, or in a transaction not subject to, the registration requirements
of the U.S. Securities Act. There will be no public offer of the Offer Shares in the United States. The Offer Shares
are being offered and sold solely (1) in the United States to qualified institutional buyers as defined in Rule 144A
under the U.S. Securities Act pursuant to Rule 144A or another available exemption from registration under the U.S.
Securities Act and (2) outside the United States in offshore transactions in reliance on Regulation S under the U.S.
Securities Act.
In connection with the Global Offering, J.P. Morgan Securities (Asia Pacific) Limited as stabilizing manager (the
“Stabilizing Manager ”), its affiliates or any person acting for it, on behalf of the Underwriters, may over-allocate or
effect transactions with a view to stabilizing or supporting the market price of the Shares at a level higher than that
which might otherwise prevail in an open market for a limited period after the Listing Date. However, there is no
obligation on the Stabilizing Manager, its affiliates or any person acting for it, to conduct any such stabilizing action,
which, if commenced, will be conducted at the sole and absolute discretion of the Stabilizing Manager, its affiliates or
any person acting for it, and may be discontinued at any time. Any such stabilizing activity is required to be brought
to an end on the 30th day after the last date for lodging applications under the Hong Kong Public Offering. Such
stabilization action, if commenced, may be effected in all jurisdictions where it is permissible to do so, in each case
in compliance with all applicable laws, rules and regulatory requirements, including the Securities and Futures (Price
Stabilizing) Rules (Chapter 571W of the Laws of Hong Kong), as amended, made under the Securities and Futures
Ordinance (Chapter. 571 of the Laws of Hong Kong).
Potential investors should be aware that stabilizing actions cannot be taken to support the price of the Shares for longer
than the stabilization period which will begin on the Listing Date and is expected to expire on the 30th day after the
last day for lodging applications under the Hong Kong Public Offering (which is Thursday, November 28, 2024). After
this date, no further stabilizing action may be taken, and demand for the Shares and therefore the price of the Shares
could fall.
Potential investors of the Offer Shares should note that the Joint Sponsors and Overall Coordinators (for themselves
and on behalf of the Hong Kong Underwriters) shall be entitled to terminate the Hong Kong Underwriting Agreement
with immediate effect upon the occurrence of any of the events set out in the section headed “Underwriting {
Underwriting Arrangements and Expenses {  Hong Kong Public Offering {  Hong Kong Underwriting Agreement {
Grounds for Termination ” in the Prospectus at any time prior to 8:00 a.m. (Hong Kong time) on the Listing Date (which
is currently expected to be on Friday, November 1, 2024).


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T.S. Lines Limited
ʮ̡
(Incorporated in Hong Kong with limited liability)
GLOBAL OFFERING
Number of Offer Shares under
the Global Offering
: 250,940,000 Shares (subject to the Over-
allotment Option)
Number of Hong Kong Offer Shares : 25,094,000 Shares
Number of International Offer Shares : 225,846,000 Shares (subject to the Over-
allotment Option)
Final Offer Price : HK$4.18 per Offer Share, plus brokerage
of 1.0%, SFC transaction levy of
0.0027%, AFRC transaction levy
of 0.00015% and Hong Kong Stock
Exchange trading fee of 0.00565%
(payable in full on application in Hong
Kong dollars and subject to refund)
Stock code : 2510
Joint Sponsors, Overall Coordinators, Joint Global Coordinators,
Joint Bookrunners and Joint Lead Manager
Other Joint Bookrunners and Joint Lead Managers


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 T.S. Lines Limited / 德翔海運有限公司
ANNOUNCEMENT OF FINAL OFFER PRICE AND
ALLOTMENT RESULTS
Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings
as those defined in the prospectus dated October 24, 2024 (the “Prospectus”) issued by T.S. Lines Limited
(the “Company”).


Warning: In view of high concentration of shareholding in a small number of  Shareholders,
Shareholders and prospective investors should be aware that the price of the Shares could move
substantially even with a small number of Shares traded and should exercise extreme caution when
dealing in the Shares.
SUMMARY





*see note at the end of the announcement













The number of offer shares above is determined after taking into account the additional shares issued
under the following Offer Size Adjustment Option
 Over-allocation
 No. of Offer Shares over-allocated 37,641,000
 Such over-allocation will be settled by using Shares to be borrowed under the Stock Borrowing Agreement
between the Stabilizing Manager and Providence. Such borrowed Shares may be covered by exercising the
Over-allotment Option in full or in part or by making purchases in the  secondary market at prices that do
not exceed the Offer Price or a combination of these means. In the  event the Over-allotment Option is
exercised, an announcement will be made on the Stock Exchange’s website.

Company information
Stock code 2510
Stock short name TS LINES
Dealings commencement date November 1, 2024*

Price Information
Final Offer Price HK$4.18
Offer Price Range HK$3.50 - HK$4.50
Offer Price Adjustment exercised No

Offer Shares and Share Capital
Number of Offer Shares 250,940,000
Number of Offer Shares in Hong Kong Public Offering 25,094,000
Number of offer shares in International Offering  225,846,000
Number of issued shares upon Listing 1,650,940,000

Offer Size Adjustment Option (Upsize option)
Number of additional shares issued under the option 0
- Hong Kong Public Offering 0
- International Offering 0


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Note: Gross proceeds refers to the amount to which the issuer is entitled to receive. For details of the use
of proceeds, please refer to the Prospectus dated October 24, 2024.

Proceeds
Gross proceeds (Note) HK$ 1,048.93 million
Less: Estimated listing expenses payable based on Final
Offer Price
HK$ (108.02) million
Net proceeds HK$ 940.91 million





ALLOTMENT RESULTS DETAILS
PUBLIC OFFER


No. of valid applications 6,861
No. of successful applications 3,024
Subscription level 12.09 times
Claw-back triggered No
No. of Offer Shares initially available under the Hong Kong Public
Offering
25,094,000
Final no. of Offer Shares under the Hong Kong Public Offering  25,094,000
% of Offer Shares under the Hong Kong Public Offering to the
Global Offering
10%

Note: For details of the final allocation of shares to the Hong Kong Public Offering, investors
can refer to www.eipo.com.hk/eIPOAllotment to perform a search by identification number
or www.eipo.com.hk/eIPOAllotment for the full list of allottees.
INTERNATIONAL OFFERING


No. of placees 120
Subscription Level 2.22 times
No. of Offer Shares initially available under the International
Offering
225,846,000
Final no. of Offer Shares under the International Offering  225,846,000
% of Offer Shares under the International Offering to the Global
Offering
90%

The Directors confirm that, to the best of their knowledge, information and belief, save for waivers from strict
compliance with Rule 10.04 of the Listing Rules and consent s under paragraph 5(2) of Appendix F1 to the
Listing Rules (the “ Placing Guidelines”) granted by the Stock Exchange to permit the Company to allocate
certain Offer Shares in the International Offering to certain existing shareholders, (i) none of the Offer Shares
subscribed by the placees and the public have been financed directly or indirectly by the Company, any of the
Directors, chief executive of the Company, controlling shareholders, substantial shareholders, existing
shareholders of the Company or any of its subsidiaries or their respective close associates; and (ii) none  of


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the placees and the public who have purchased the Offer Shares are accustomed to taking instructions from the
Company, any of the Directors, chief executive of the Company, controlling shareholders, substantial
shareholders, existing shareholders of the Company or any of its subsidiaries or their respective  close
associates in relation to the acquisition, disposal, voting or other disposition of Shares registered in his/her/its
name or otherwise held by him/her/it.

The placees in the International Offering include the following:
Cornerstone Investors








Investor





No. of Offer
Shares
allocated




% of Offer
Shares
(assuming
 the Over-
allotment Option
is not exercised)



% of total issued
share capital after
the Global Offering
(assuming the Over-
allotment
Option is not
exercised)



Existing
shareholders or
their close associates
Indigo Rainbow
Limited
27,887,000 11.11% 1.69% No



Hung Chi-Li /
洪綺勵

24,168,000 9.63% 1.46% No

Worldwide
Logistics Holding
HK Limited /
環世物流控股香
港有限公司

23,921,000 9.53% 1.45% No

Metro Shine
Group Limited
16,732,000 6.67% 1.01% No

Wang Yi-Fen /
王意分
14,873,000 5.93% 0.90% No

Crane Movement
Investment
Limited
11,154,000 4.44% 0.68% Yes
Total 118,735,000 47.32% 7.19%


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Allotees with waivers/consents obtained








Investor




No. of
Offer
Shares
allocated
% of Offer
Shares
(assuming the
Over-
allotment
Option is not
exercised)
% of total
issued share
capital after the
Global Offering
(assuming the
Over-
allotment Option is
not exercised)




Relationship
Crane Movement
Investment Limited
11,154,000 4.44% 0.68% Crane Movement
Investment Limited is
an existing shareholder
of the Company. Note 1
Chow I-Chang /
周宜強
2,793,000 1.11% 0.17% Mr. Chow I-Chang is
an existing shareholder
of the Company. Note 2
Total  13,947,000 5.56% 0.84%
Notes:
1. The Company has applied for, and the Stock Exchange has granted, a waiver from strict compliance
with Rule 10.04 of the Listing Rules and a written consent under Paragraph 5(2) of the Placing
Guidelines in relation to allocation to Crane Movement Investment Limited, an existing shareholder
of the Company. Please refer to the “Waivers from Strict Compliance with the Listing Rules” section
in the Company’s Prospectus for further details. The allocation of Offer Shares to Crane Movement
Investment Limited is in compliance with all the conditions under the waiver and consent granted by
the Stock Exchange.
2. Mr. Chow I -Chang is an existing shareholder of the Company  (through his interest in CICHK
Investment Limited). The Company has applied to the Stock Exchange for, and the Stock Exchange
has granted, a waiver from strict compliance with Rule 10.04 of the Listing Rules and a written
consent under paragraph 5(2) of the Placing Guidelines to permit the Company to allocate such
Offer Shares in the International Offering to Mr. Chow I-Chang. The allocation of Offer Shares to
Mr. Chow I-Chang is in compliance with all the conditions under the waiver and consent granted by
the Stock Exchange. For details, please refer to the section headed “Others / Additional Information”
below.

Allotees who are customer(s) and/or supplier(s) of the Company








Investor




No. of
Offer
Shares
allocated
% of Offer
Shares
(assuming the
Over-
allotment
Option is not
exercised)
% of total
issued share
capital after the
Global Offering
(assuming the
Over-
allotment Option is
not exercised)




Relationship


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AL MARITIME
HOLDING PTE
LTD
9,334,000 3.72% 0.57% Supplier of the
Company
T.V.L.
INTERNATIONAL
(HOLDING) CO.,
LTD
7,500,000 2.99% 0.45% Customer and supplier
of the Company
MAX-BRIDGE
CORP.
2,000,000 0.80% 0.12% Supplier of the
Company
SHININGOCEAN
(HONG KONG)
LOGISTICS
GROUP LIMITED
1,866,000 0.74% 0.11% Customer of the
Company
Total  20,700,000 8.25% 1.25%
LOCK-UP UNDERTAKINGS
Controlling Shareholders








Name


Number of shares
held in the
Company subject to
lock-up
undertakings upon
listing

% of shareholding in
the Company subject to
lock-up undertakings
upon listing (assuming
the Over-allotment
Option is not exercised)





Last day subject to the lock-
up undertakings
TS Investment Limited
Note 1
162,073,020 9.82% April 30, 2025 Note 3
(First Six-Month Period)
October 31, 2025 Note 4
(Second Six-Month Period)
Prevalence Holding
Limited
Note 1
176,829,400 10.71% April 30, 2025 Note 3
(First Six-Month Period)
October 31, 2025 Note 4
(Second Six-Month Period)
Providence Holding
Limited Note 1
140,000,000 8.48% April 30, 2025 Note 3
(First Six-Month Period)
October 31, 2025 Note 4
(Second Six-Month Period)
AM Holding Limited Note 1 140,000,000 8.48% April 30, 2025 Note 3
(First Six-Month Period)
October 31, 2025 Note 4
(Second Six-Month Period)
Vision Investments
Limited Note 2
618,902,420 37.49% April 30, 2025 Note 3
(First Six-Month Period)
October 31, 2025 Note 4
(Second Six-Month Period)
Subtotal 1,237,804,840 74.98%


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In accordance with the relevant Listing Rule/guidance materials, the required lock -up for the first six -month
period ends on April 30, 2025 and for the second six-month period, on October 31, 2025.

Notes:
1. Each of TS Investment  Limited (“ TS Investment ”), Prevalence Holding Limited  (“Prevalence”),
Providence Holding Limited (“Providence”) and AM Holding Limited (“AM Holding”) is wholly-owned
by Maritime Legacy Limited (“Maritime Legacy”). Maritime Legacy is in turn owned by TS Chen Holding
Limited (“TS Chen Holding”) (a company wholly owned by Mr. Chen Teh-Sheng (“Mr. Chen”)), Search
& Search Company Limited (“ Search & Search ”) (a company wholly owned by Mrs. Chen  Chuang
Chuang-Li (“Mrs. Chen”), the spouse of Mr. Chen), JC Righteous Holding Limited (“JC Righteous”) (a
company wholly owned by Mr. Jame s Chen, the son of Mr. Chen) and Avermay Holding Limited
(“Avermay”) (a company wholly owned by Ms. Christy Chen, the daughter of Mr. Chen). Mr. Chen, Mrs.
Chen, Mr. James Chen and Ms. Christy Chen, by virtue of their family relationship, are parties acting in
concert with each other in respect of the Company. By virtue of the SFO, each of Mr. Chen, Mrs. Chen,
Mr. James Chen, Ms. Christy Chen, TS Chen Holding, Search &  Search, JC Righteous, Avermay and
Maritime Legacy is deemed to be interested in the Shares held by TS Investment, Prevalence, Providence
and AM Holding. As such, Mr. Chen, Mrs. Chen, Mr. James Chen, Ms. Christy Chen and their respective
wholly-owned investment holding companies, namely TS Chen Holding, Search & S earch, JC Righteous
and Averma y and Maritime Legacy (a company owned by the four aforesaid investment holding
companies) are a group of Controlling Shareholders and each of them is subject to the same lock -up as
disclosed above.
2. Vision Investments Limited (“Vision Investments”) is wholly-owned by The Nova Foundation (“Nova
Foundation”), and pursuant to the rules of Nova Foundation,  Vision Investments is beneficially held by
Nova Foundation for its founder only, namely General Sharafuddin Alsayed Mohd H S M Yousif Sharaf
(“Mr. Sharafuddin”), and shall not be beneficially held for any other beneficiary or person for a period
expiring twelve months after the Listing Date. Mr. Sharafuddin is thus deemed to be interested in the
Shares held by Vision Investments by virtue of the SFO. As such, Mr. Sharafuddin, Nova Foundation and
Vision Investments are a group of Controlling Shareholders and each of them is subject to the same lock-
up as disclosed above.
3. The Controlling Shareholders may dispose of or transfer Shares after the indicated date subject to that
the Controlling Shareholders will not cease to be Controlling Shareholders.
4. The Controlling Shareholders will cease to be prohibited from disposing of or transferring Shares after
the indicated date.

Existing Shareholders (other than the Controlling Shareholders)









Name



Number of shares held
in the Company
subject to lock-up
undertakings upon
listing


% of shareholding in
the Company subject to
lock-up undertakings
upon listing (assuming
the Over-allotment
Option is not
exercised)




Last day subject to the
lock-up undertakings
Kentship Holding Limited  97,720,000  5.92% April 30, 2025  Note 1
Wu Shang-Ying / 吳尚鷹 30,328,820  1.84% April 30, 2025  Note 1


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Crane Movement Investment
Limited Note 2
29,655,600 1.80% April 30, 2025  Note 1
CICHK Investment Limited
Note 2
4,490,740 0.27% April 30, 2025  Note 1
Subtotal  162,195,160 9.82%
Notes:
1. The expiry date of the lock -up period shown in the table above is pursuant to the voluntary lock -up
undertakings given by each of the Shareholders  above. Please see “ Underwriting – Underwriting
Arrangements and Expenses – Hong Kong Public Offering – Undertakings pursuant to the Listing Rules
and the Hong Kong Underwriting Agreement – (D) Undertakings by Existing Shareholders ” in the
Prospectus for further details.
2. Crane Movement Investment Limited and Mr. Chow I -Chang (an existing shareholder of the Company
through his interest in CICHK Investment Limited) were allocated Offer Shares as a cornerstone investor
and a placee respectively. For details, please refer to the sections headed “ International Offering –
Cornerstone Investors” and “International Offering – Allotees with waivers/consents obtained”.

Cornerstone Investors








Name

Number of shares held
in the Company subject
to lock-up
undertakings upon
listing
% of shareholding in
the Company subject to
lock-up undertakings
upon listing (assuming
the Over-allotment
Option is not exercised)



Last day subject to the
lock-up undertakings
Indigo Rainbow Limited  27,887,000 1.69% April 30, 2025  Note 1
Hung Chi-Li /
洪綺勵

24,168,000 1.46% April 30, 2025  Note 1
Worldwide Logistics
Holding HK Limited /
環世物流控股香港有限公
司
23,921,000 1.45% April 30, 2025  Note 1
Metro Shine Group Limited 16,732,000 1.01% April 30, 2025  Note 1
Wang Yi-Fen /
王意分
14,873,000 0.90% April 30, 2025  Note 1


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Name

Number of shares held
in the Company subject
to lock-up
undertakings upon
listing
% of shareholding in
the Company subject to
lock-up undertakings
upon listing (assuming
the Over-allotment
Option is not exercised)



Last day subject to the
lock-up undertakings
Crane Movement Investment
Limited Note 2
11,154,000 0.68% April 30, 2025  Note 1
Subtotal 118,735,000 7.19%
Notes:
1. The Cornerstone Investors shall not dispose of any of the Offer Shares subscribed pursuant to the
Cornerstone Investment Agreements on or before the indicated date.
2. Crane Movement Investment Limited, an existing Shareholder of the Company, was allocated Offer
Shares as a cornerstone investor. For details, please refer to the sections headed “International Offering
– Cornerstone Investors” and “International Offering – Allotees with waivers/consents obtained”. Shares
subscribed by Crane Movement Investment Limited as a cornerstone investor are subject to lock -up
undertakings as indicated above.


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11

PLACEE CONCENTRATION ANALYSIS





Placees*



Number of
Shares allotted

Allotment as % of
International Offering
(assuming no exercise of
the Over-allotment
Option)
Allotment as %
of International
Offering (assuming
the Over- allotment
Option is exercised and
new Shares
are issued)


Allotment as % of total
Offer Shares (assuming no
exercise of the Over -
allotment Option)

Allotment as % of total
Offer Shares (assuming
the Over-allotment
Option is exercised and
new Shares are issued)



Number of
Shares held upon Listing


% of total issued share
capital upon Listing
(assuming no exercise of the
Over-allotment Option)
·% of total issued
share capital upon
Listing (assuming the
Over- allotment
Option is exercised and
new Shares
are issued)
Top 1 27,887,000 12.35% 10.58% 11.11% 9.66% 27,887,000 1.69% 1.65%
Top 5 107,581,000 47.63% 40.83% 42.87% 37.28% 107,581,000 6.52% 6.37%
Top 10 162,669,000 72.03% 61.74% 64.82% 56.37% 192,324,600 11.65% 11.39%
Top 25 230,740,000 102.17% 87.57% 91.95% 79.96% 264,886,340 16.04% 15.69%

Notes
* Ranking of placees is based on the number of Shares allotted to the placees.


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SHAREHOLDERS CONCENTRATION ANALYSIS







Sharehold
ers






Number of
Shares all
otted


Allotment as %
of
International
Offering
(assuming  no
exercise of the
Over-allotment
Option)
Allotment as %
of
International
Offering
(assuming  the
Over-
allotment
Option is
exercised  and
new Shares are
issued)


Allotment as %
of total Offer
Shares
(assuming no
exercise of the
Over-
allotment
Option)

Allotment  as
% of total
Offer Shares
(assuming  the
Over-allotment
Option is
exercised and
new Shares are
issued)






Number of
Shares held
upon Listing


% of total
issued share
capital upon
Listing
(assuming  no
exercise of the
Over-allotment
Option)
% of total
issued share
capital upon
Listing
(assuming  the
Over-allotment
Option is
exercised and
new Shares are
issued)
Top 1 0 0.00% 0.00% 0.00% 0.00% 618,902,420 37.49% 36.65%
Top 5 39,041,00
0
17.29% 14.82% 15.56% 13.53% 1,434,550,26
0
86.89% 84.96%
Top 10 131,835,0
00
58.37% 50.03% 52.54% 45.68% 1,527,344,26
0
92.51% 90.45%
Top 25 224,240,0
00 99.29% 85.10% 89.36% 77.70% 1,624,240,00
0
98.38% 96.19%

Notes
* Ranking of Shareholders is based on the number of Shares (of all classes) held by the Shareholders upon Listing.

BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
Subject to the satisfaction of the conditions set out in the Prospectus, 6,861 valid applications
made by the public will be conditionally allocated on the basis set out below:

   APPROXIMATE
PERCENTAGE
ALLOTTED
OF THE TOTAL
NO. OF
SHARES
APPLIED FOR

NO. OF
SHARES
NO. OF
VALID

APPLIED
FOR
APPLICA
TIONS BASIS OF ALLOTMENT / BALLOT
  POOL A
1,000 2,129 125 out of 2,129 to receive 1,000 Shares 5.87%
2,000 888 104 out of 888 to receive 1,000 Shares 5.86%
3,000 240 42 out of 240 to receive 1,000 Shares 5.83%
4,000 149 34 out of 149 to receive 1,000 Shares 5.70%
5,000 264 75 out of 264 to receive 1,000 Shares 5.68%
6,000 94 32 out of 94 to receive 1,000 Shares 5.67%
7,000 59 23 out of 59 to receive 1,000 Shares 5.57%
8,000 81 36 out of 81 to receive 1,000 Shares 5.56%
9,000 47 23 out of 47 to receive 1,000 Shares 5.44%
10,000 782 425 out of 782 to receive 1,000 Shares 5.43%


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13

15,000 123 100 out of 123 to receive 1,000 Shares 5.42%
20,000 512 1,000 Shares plus 43 out of 512 to receive additional
1,000 Shares 5.42%
25,000 80 1,000 Shares plus 28 out of 80 to receive additional
1,000 Shares 5.40%
30,000 120 1,000 Shares plus 74 out of 120 to receive additional
1,000 Shares 5.39%
35,000 54 1,000 Shares plus 47 out of 54 to receive additional
1,000 Shares 5.34%
40,000 195 2,000 Shares plus 26 out of 195 to receive additional
1,000 Shares 5.33%
45,000 38 2,000 Shares plus 15 out of 38 to receive additional
1,000 Shares 5.32%
50,000 152 2,000 Shares plus 100 out of 152 to receive
additional 1,000 Shares 5.32%
60,000 80 3,000 Shares plus 15 out of 80 to receive additional
1,000 Shares 5.31%
70,000 41 3,000 Shares plus 29 out of41 to receive additional
1,000 Shares 5.30%
80,000 65 4,000 Shares plus 15 out of 65 to receive additional
1,000 Shares 5.29%
90,000 36 4,000 Shares plus 27 out of 36 to receive additional
1,000 Shares 5.28%
100,000 183 5,000 Shares plus 51 out of 183 to receive additional
1,000 Shares 5.28%
150,000 90 7,000 Shares plus 82 out of 90 to receive additional
1,000 Shares 5.27%
200,000 89 10,000 Shares plus 48 out of 89 to receive additional
1,000 Shares 5.27%
250,000 68 13,000 Shares plus 11 out of 68 to receive additional
1,000 Shares 5.26%
300,000 29 15,000 Shares plus 22 out of 29 to receive additional
1,000 Shares 5.25%
350,000 27 18,000 Shares plus 7 out of 27 to receive additional
1,000 Shares 5.22%
400,000 28 20,000 Shares plus 23 out of 28 to receive additional
1,000 Shares 5.21%
450,000 21 23,000 Shares plus 7 out of 21 to receive additional
1,000 Shares 5.19%
500,000 24 25,000 Shares plus 20 out of 24 to receive additional
1,000 Shares 5.17%
600,000 10 30,000 Shares plus 9 out of 10 to receive additional
1,000 Shares 5.15%
700,000 5 36,000 Shares 5.14%
800,000 1 41,000 Shares 5.13%
900,000 6 46,000 Shares plus 1 out of 6 to receive additional
1,000 Shares 5.13%
1,000,000 36 51,000 Shares plus 9 out of 36 to receive additional
1,000 Shares 5.13%

6,846

Total number of Pool A successful applicants: 3,009


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14

  POOL B
2,000,000 3 386,000 Shares plus 1 out of 3 to receive additional
1,000 Shares 19.32%
3,000,000 2 579,000 Shares 19.30%
4,000,000 3 772,000 Shares 19.30%
5,000,000 2 965,000 Shares 19.30%
6,000,000 4 1,158,000 Shares plus 1 out of 4 to receive
additional 1,000 Shares 19.30%
7,000,000 1 1,351,000 Shares 19.30%

15

Total number of Pool B successful applicants:
15


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15

As of the date of this announcement, the relevant subscription monies previously deposited in the
designated nominee accounts have been remitted back to the accounts of all HKSCC participants.
Investors should contact their relevant brokers for any inquiries.
COMPLIANCE WITH LISTING RULES AND GUIDANCE
The Directors confirm that, except for the Listing Rules that have been waived and/or in respect of
which consent has been obtained, the Company has complied with the Listing Rules and guidance
materials in relation to the placing, allotment and listing of the Company’s shares.
The Directors confirm that, to the best of their knowledge, the consideration paid by the placees or the
public (as the case may be) directly or indirectly  for each Offer Share subscribed for or purchased by
them was the same as the final Offer Price in addition to any brokerage, AFRC transaction levy, SFC
transaction levy and trading fee payable.

OTHERS / ADDITIONAL INFORMATION

Existing Shareholder s as cornerstone investor and as placee (with Waiver s from Strict
Compliance with Rule 10.04 of the Listing Rules and Prior Written Consents under Paragraph
5(2) of the Placing Guidelines)
Crane Movement Investment Limited (“ Crane Movement ”) is an existing shareholder of the
Company. As of the date of the Prospectus, Crane Movement held 29,655,600 Shares, representing
approximately 2.12% of the total issued Shares. It has been placed with 11,154,000 Offer Shares at
the Offer Price as a cornerstone investor, representing approximately 4.44% of the total number of
Offer Shares initially available under the Global Offering (assuming the Over -allotment Option is
not exercised) and approximately 0.68% of the total issued Shares of the Company upon completion
of the Global Offering (assuming the Over-allotment Option is not exercised).
Mr. Chow I -Chang is an existing shareholder of the Company (through his interest in CICHK
Investment Limited). As of the date of the Prospectus, CICHK Investment Limited held 4,490,740
Shares, representing approximately 0.32% of the total issued Shares.  Mr. Chow I -Chang has been
placed with 2,793,000 Offer Shares at the Offer Price as a placee under the International Offering,
representing approximately 1.11% of the total number of Offer Shares initially available under the
Global Offering (assuming the Over-allotment Option is not exercised) and approximately 0.17% of
the total issued Shares of the Company upon completion of the Global Offering (assuming the Over-
allotment Option is not exercised).
The Company has applied to the Stock Exchange for, and the Stock Exchange has granted, waiver s
from strict compliance with Rule 10.04 of the Listing Rules and its consents under paragraph 5(2) of
the Placing Guidelines to permit the Company to allocate such Offer Shares in the International
Offering to each of Crane Movement and Mr. Chow I-Chang. The allocation of Offer Shares to each
of Crane Movement and Mr. Chow I -Chang is in compliance with all the conditions under the
waivers and consents granted by the Stock Exchange.


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16

DISCLAIMERS


Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited (the
“Stock Exchange”) and Hong Kong Securities Clearing Company Limited (“HKSCC”) take
no responsibility for the contents of this announcement, make no representation as to its accuracy
or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising
from or in reliance upon the whole or any part of the contents of this announcement.
This announcement is not for release, publication, distribution, directly or indirectly, in or into
the United States (including its territories and possessions, any state of the United States and
the District of Columbia). This announcement does not constitute or form a part of any offer or
solicitation to purchase or subscribe for securities in the United States. The securities mentioned
herein have not been, and will not be, registered under the United States Securities Act of 1933,
as amended (the “U.S. Securities Act”). The securities may not be offered or sold in the United
States except pursuant to an exemption from the registration requirements of  the U.S. Securities
Act and in compliance with any applicable state securities laws, or outside the United States
unless in compliance with Regulation S under the U.S. Securities Act. There will be no public
offer of securities in the United States.
The Offer Shares are being offered and sold (1) solely to qualified institutional buyers as defined in
Rule 144A under the U.S. Securities Act pursuant to an exemption from registration under the U.S.
Securities Act and (2) outside the United States in offshore transactions in reliance on Regulation S
under the U.S. Securities Act.
This announcement is for information purposes only and does not constitute an invitation or offer
to acquire, purchase or subscribe for securities. This announcement is not a prospectus. Potential
investors should read the Prospectus dated October 24, 2024 issued  by T.S. Lines Limited  for
detailed information about the Global Offering described below before deciding whether or not to
invest in the Shares thereby being offered.
*Potential investors of the Offer Shares should note that the Overall Coordinators (for
themselves and on behalf of the Hong Kong Underwriters) shall be entitled to terminate their
obligations under the Hong Kong Underwriting Agreement with immediate effect upon the
occurrence of any of the events set out in the paragraph headed “Underwriting — Underwriting
Arrangements and Expenses — Hong Kong Public Offering — Hong Kong Underwriting Agreement
— Grounds for Termination” in  the Prospectus at any time prior to 8:00 a.m. (Hong Kong time)
on the Listing Date (which is currently expected to be on Friday, November 1, 2024).


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17
PUBLIC FLOAT
Immediately after the completion of the Global Offering, 413,135,160 Shares, representing
approximately 25.02% of the issued share capital of our Company will count towards the public
float (before any exercise of Over-allotment Option), satisfying the minimum percentage prescribed
by Rule 8.08 of the Listing Rules.
The Directors confirm that, immediately following completion of the Global Offering: (i) at least
25% of the total number of issued Shares will be held by the public, in compliance with Rule
8.08(1) of the Listing Rules; (ii) the Shares will be held by at least 300 Shareholders at the time
of Listing, in compliance with Rule 8.08(2) of the Listing Rules; (iii) the three largest public
Shareholders will not hold more than 50% of the Shares held in public hands at the time of Listing,
in compliance with Rule 8.08(3) of the Listing Rules; (iv) no placee will, individually, be placed
more than 10% of the enlarged issued share capital of the Company immediately after the Global
Offering; and (v) there will not be any new substantial Shareholder (as defined in the Listing
Rules) of the Company.
COMMENCEMENT OF DEALINGS
Share certificates will only become valid evidence of title at 8:00 a.m. (Hong Kong time) on
Friday, November 1, 2024, provided that the Global Offering has become unconditional and the
right of termination described in the section headed “Underwriting {  Underwriting Arrangements
and Expenses {  Hong Kong Public Offering { Hong Kong Underwriting Agreement { Grounds
for Termination ” in the Prospectus has not been exercised. Investors who trade Shares prior to the
receipt of Share certificates or the Share certificates becoming valid evidence of title do so entirely
at their own risk.
Assuming that the Global Offering becomes unconditional at or before 8:00 a.m. (Hong Kong time)
on Friday, November 1, 2024, it is expected that dealings in the Shares on the Stock Exchange will
commence at 9:00 a.m. on Friday, November 1, 2024. The Shares will be traded in board lots of
1,000 Shares each. The stock code of the Shares will be 2510.
By order of the Board
T.S. Lines Limited
Mr. Chen Teh-Sheng
Chairman of the Board, Executive Director and Chief Executive Officer
Hong Kong, October 31, 2024
As at the date of this announcement, the Board comprises, (i) Mr. Chen Teh-Sheng, Mrs. Chen
Chuang Chuang-Li, Mr. To Hung-Lin, Mr. Chow Hong Man and Mr. Chen Shao-Hsiang as
executive directors; and (ii) Mr. Wu Youn-Ger, Mr. Chang Shan-Hui and Mr. Yang Li-Yen as
independent non-executive directors.
This announcement is available for viewing on the website of the Company at  www.tslines.com
and the website of the Stock Exchange at  www.hkexnews.hk .