Tellus is conducting a cash capital increase with the goal of an IPO within 3 years
Tellus Group announced that Tellus Home will conduct a cash capital increase, planning to go public in the next three years. The parent company, Tellus, has waived its subscription rights, reducing its shareholding ratio to 72.92%. This capital increase will issue 26 million shares, raising a total of 988 million yuan. Tellus Home expects that after the capital increase, its paid-in capital will rise to 960 million yuan, continuing to optimize its product mix and service experience, and maintain steady performance growth
Teli Group announced today that Teli House will conduct a cash capital increase in line with its subsidiary's future plan for stock listing. The parent company Teli will waive its subscription rights, reducing its shareholding ratio to 72.92%. Teli House is expected to go public (IPO) within three years, with the earliest listing on the capital market next year.
Teli Group announced today that in line with its subsidiary Teli House's future stock listing plan, the board of directors of Teli and the chairman of its important subsidiary Li Qiu Company have decided to waive their subscription rights for the cash capital increase shares of Teli House, allowing all shareholders of the company to subscribe.
According to the announcement, Teli House will issue 26 million shares of common stock in the cash capital increase, with a par value of NT$10 per share, totaling NT$260 million. The issue price per share is NT$38, raising a total of NT$988 million.
Teli pointed out that, in accordance with Article 267 of the Company Act, 15% of the shares, totaling 3.9 million shares, will be reserved for employee subscription. The remaining 85%, totaling 22.1 million shares, was originally to be subscribed by the original shareholders of Teli House. However, considering Teli House's future stock listing plan, the original shareholders waived their subscription rights, allowing all qualified shareholders of the company to have priority in subscription.
Teli explained that after the capital increase, the paid-in capital will increase from NT$700 million to NT$960 million, and Teli's shareholding will decrease from 100% to 72.92%, which will not affect its control over Teli House.
In January, Teli House's revenue was NT$960 million, accounting for 68% of the group's retail business revenue. Teli House currently has 28 large stores and 35 community stores, totaling 63 stores, with plans to open 6 more community stores this year. Teli stated that the retail business will continue to optimize its product mix and service experience to respond to market trends and maintain steady growth momentum in performance
