Futu News on August 15 $CTG DUTY-FREE (01880.HK)$In the process of offering, the company plans to issue 102.7619 million shares from August 15 to August 18, including a public offering of 5.1382 million shares and an international offering of 97.6237 million shares at an issue price of HK $143.50 to HK $165.50 per share.
China exemption was founded in 1984, after nearly 40 years of development, has developed into the world's largest tourism retail operator, focusing on selling high-quality duty-free and duty-free goods for domestic and foreign tourists and middle and high-end customers, forming a full range of shopping experience. According to Frost Sullivan, the company's global ranking in terms of sales revenue has risen over the past decade, from 19th in 2010 to 12th in 2015, and to fourth in 2019. And ranked first in the world in 2020 and 2021. In 2021, the company accounts for 24.6% of the global tourism retail market share.
China exemption takes tax exemption as the core, develops China's tourism retail business, and strives to expand its global layout. The company is the only retail operator in China that covers fully duty-free sales channels, including port stores, outlying island stores, intra-city stores, cruise stores, on-board stores and foreign ship supply stores. The company has the largest number of duty-free shops in the country. The company's prominent market position depends on China to a large extent.