Singapore Exchange (SGX) today welcomed Trans-China Automotive Holdings Limited to its Catalist under the stock code “VI2”.
Headquartered in Hong Kong and Shenzhen, Trans-China Automotive is a leading automobile dealership group focused on the distribution of premium and ultra-premium automobiles in the People’s Republic of China (PRC), under the BMW, McLaren and Lotus brands. Their dealerships are located in key cities, namely, Foshan, Shenzhen, Guangzhou, Chongqing, Changsha and Wuhan. Besides the sale of new and pre-owned automobiles, they provide after-sales services including maintenance and repair services and sale of automobile parts. As an ancillary business, the company also provides automobile agency services such as referrals for insurance and car registration agency services.
Francis Tjia, Executive Director, Executive Chairman and Chief Executive Officer, Trans-China Automotive, said, “We are heartened by the positive reception to our IPO as it reflects the investors’ recognition of the intrinsic value of our business and the growth potential of the Group. With our focus on premium and ultra-premium automobile brands as well as the strategic locations of our dealerships in geographically affluent cities in the PRC, we believe that Trans-China Automotive is in a strong position to reap the benefits of being in the world’s largest market for automobile sales. Together with the PRC’s growing affluence and robust economic performance, it presents vast opportunities for us to further expand our business organically through the acquisition of new dealerships, by increasing our presence in existing regions and expanding into new regions, as well as diversifying our complementary services to include a more extensive range of automobile-related services.”
Mohamed Nasser Ismail, Global Head of Equity Capital Markets, SGX, said, “We are excited to welcome the listing of Trans-China Automotive Holdings Limited and look forward to supporting the company on their growth journey. The continued economic growth in the PRC has led to an increase in propensity for consumption. Paired with an experienced and committed management team and their strong business relationships, Trans-China Automotive is well-geared to tap on the growth opportunities in their industry including the promising prospects for the new energy vehicle market.”
With a market capitalisation of around S$134 million, the listing of Trans-China Automotive Holdings Limited brings the total number of companies listed on Catalist to 216, with a combined market capitalisation of about S$12.6 billion. Within the Consumer sector, there are currently 134 companies listed on SGX with a total market capitalisation of around S$76 billion.
Trans-China Automotive Holdings Limited opened at S$0.245 today.
