综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

Business / Companies

Chinese foot massage firm finds a listing niche on Australian bourse

By Shi Jing in Shanghai (China Daily) Updated: 2015-08-27 09:14

Traditional Chinese medicine is set to spread its wings to overseas bourses, with a Chinese foot massage company looking to list its shares on the Sydney-based Australian Securities Exchange.

According to an ASX announcement, Traditional Therapy Clinics Ltd which owns the Hong Kong-registered China Fuqiao Healthcare Co Ltd, will be listed on the Australian bourse on Monday. China Fuqiao Healthcare, in turn, holds a 100 percent stake in Fuqiao (Chongqing) Holdings Co Ltd, which is the fastest-growing foot therapy massage brand in China.

TTC plans to raise A$15 million ($10.7 million) through an initial public offering of 30 million shares priced at A$0.5 each. The proceeds will be used to "fund expansion plans, brand promotion, expansion of franchisee network, and enhancing corporate governance standards", the company said in a statement.

Andrew Sneddon, a former partner with PricewaterhouseCoopers, a global consultancy firm, will be the new chairman of TTC, rather than the founder Hu Zhirong. Sneddon has extensive experience in management and investment-related activities.

Following the public issue, Hwazon Investment Ltd will become the largest shareholder of TTC. The actual controller of Hwazon is Hu Zhirong, the founder and president of TTC, who indirectly holds 62.04 percent of Hwazon. After the float, Hu's personal wealth will rise to 300 million yuan.

Starting its operations in Southwest China's Chongqing with foot therapy clinics in 1998, TTC had about 299 franchisees and 11 fully owned clinics in China as of April 30. It has been operating under the brand name Fuqiao, a trademark that was approved by the State Administration Trademark Office in 2002.

The company has recorded a compound average annual growth rate of 69 percent in the past four years. According to company data, its sales revenue surged to A$30.86 million in 2014 from A$8.82 million in 2012. It is expected that the company's sales revenue will reach A$41.66 million this year, with net profit coming in at A$15.85 million.

Australia was not TTC's first choice, however. China Fuqiao Healthcare was registered in Hong Kong in 2011. A year later, Hu of TTC said that the company was carrying out plans to go public in Hong Kong. As to the changed destination, TTC would not disclose anything for the time being, saying that all the related information will be released once the company is successfully listed.

Australia has become one of the most popular overseas markets for Chinese companies in recent years. In Chongqing alone, there are two companies that have gone public in Australia since 2003.

According to Gao Jianzhi, chairman of Beijing-based Eagle Investment Group Ltd, Australia will gain increasing attention from Chinese companies with listing plans, especially after the free trade agreement between China and Australia. Companies specializing in alternative energy, services, consumer products, high technology and biotechnology could consider Australia as a listing destination.

shijing@chinadaily.com.cn

Hot Topics

Editor's Picks
...
东丽区| 原平市| 三门县| 阿克陶县| 门头沟区| 临沂市| 荔浦县| 唐海县| 绍兴县| 尼勒克县| 淮北市| 怀柔区| 延川县| 桃江县| 咸丰县| 安达市| 桂东县| 宝应县| 霸州市| 永平县| 安远县| 呈贡县| 鞍山市| 和林格尔县| 富锦市| 兴化市| 元氏县| 樟树市| 睢宁县| 鸡西市| 南昌县| 郸城县| 肇庆市| 高安市| 丰顺县| 竹溪县| 沙湾县| 随州市| 九江县| 通山县| 永靖县|