Wednesday 16 October 2013
SeaLink Travel Group Limited (ASX: SLK), an established diversified business operating in the tourism and marine transport sectors, has today listed on the Australian Securities Exchange (ASX).
Shares commenced trading on the ASX at 11am AEDT.
SeaLink Chairman, Giuliano Ursini, said investor interest in the SeaLink IPO had been very strong, and the Offer for 15,000,000 shares at $1.10 per share had closed early.
“We had to scale back allocations to both retail investors and the institutions who had applied for SeaLink shares,” Mr Ursini said.
As at 11.30 am, SeaLink shares were trading at $1.51 with a healthy volume of 1.3 million shares traded. This represents a 37 % premium to the Offer Price of $1.10.
Mr Ursini said the company was pleased with the activity on the first day of trading as it represented investors’ confidence in Sealink’s outlook.
The company intends to use the funds from the Offer for the acquisition of new vessels, refurbishment and upgrade of the existing fleet and to strengthen the balance sheet for future expansion.
Mr Ursini said that the board and management were excited about the future for the company and are absolutely committed to the growth of SeaLink. “A key focus for the Board will be looking for growth opportunities in marine transport services as well asselected acquisition targets in the tourism and transport sectors. The company has a good track record in making successful acquisitions in the past.”
The company operates a fleet of passenger ferries and other maritime craft and tourist coaches and provides related tourism and travel services across Australia, with the well-recognised brands such as “SeaLink” and “Captain Cook Cruises”.
SeaLink’s origins are in South Australia and the company has been synonymous with Kangaroo Island for over 24 years, providing the major transport link between the mainland of South Australia and Kangaroo Island. Over this period, SeaLink has developed tourism links to, and throughout, the island and has expanded and diversified its business across Australia to become a multi-award winning operator in the tourism and transport sectors.
Ord Minnett Limited and Taylor Collison Limited were Joint Lead Managers to the Offer.
For Investor Relations enquiries please contact Carla Schaefer at SeaLink Travel Group on (08) 8202 8619.