Utour Travel Approved By Public Offering Review Committee
The CSRC announced on July 18th that Beijing UTour International Travel Service Co., Ltd. (U-tour)’s application for IPO was approved by the Main Board Offering Review Committee of the CSRC. This is another company invested by Jiuding Capital that will be listed in A-share market.
According to pre-disclosure, U-tour plans to issue 17,000,000 shares in Shenzhen Stock Exchange, accounting for 25% of the total shares after the IPO (the total shares after the IPO will be 68,000,000). All the funds raised by the IPO will be put into the three projects including physical marketing network construction, travel e-commerce and business MICE tourism branch company, which totally needs an input of 149 million yuan.
As a professional travel operator, U-tour is focusing on wholesale and retail of overseas travel products, as well as business MICE tourism. By integrating travel resources, the company researches and develops overseas (Europe, America, Africa and Asia) travel products featuring complying with requirements of different levels, having topics and characteristics and possessing high performance/price ratio, as well as designs business MICE tourism solutions featuring novel creation and theme catering according to customers’ demand.