Lai Si Construction & Engineering Co. Ltd

    Home > About Us > News

    Lai Si Enterprise Holding Limited becomes Macau’s first construction firm to get listed on the main board of Hong Kong’s stock exchange

    1490923348759221.png

    (Incorporated in the Cayman Islands with limited liability)

    Lai Si Enterprise Holding Limited becomes Macau’s first construction firm to get listed on the main board of Hong Kong’s stock exchange

    (10 February 2017, Hong Kong) Lai Si Enterprise Holding Limited (“Lai Si Enterprise” or the “Company”, which together with its subsidiaries is referred to as the “Group”; SEHK stock code: 2266), which is a leading commercial fitting-out contractor in Macau and is also engaged in construction business, has become the city’s first construction firm to get listed on the main board of The Stock Exchange of Hong Kong Limited (“HKEx”) today.

    Lai Si Enterprise’s initial public offering of 10,000,000 shares in Hong Kong has been approximately 187.70 times subscribed through valid applications. The Company’s placing shares have also been substantially oversubscribed. The first-day trade in the Company’s shares saw the stock price close at HK$1.74 today, or 51% higher than the offer price of HK$1.15 per share, on volume of 161 million shares and turnover of HK$259 million, reflecting the investing community’s enthusiasm.

    Established in the 1980s, Lai Si Enterprise has nearly 30 years of experience in the fitting-out and construction industries in Macau. The Group undertakes fitting-out works as an integrated fitting-out contractor, and also provides services of construction, repair and maintenance works as a main contractor, for projects in both the private and public sectors in the city. The fitting-out projects undertaken by the Group can be broadly classified according to the types of customers, including hotels and casinos, retail shops and restaurants, etc. The construction projects undertaken by the Group can be broadly classified into two categories, namely general construction and heritage conservation. The Group also provides repair and maintenance services for properties in Macau, either on an ad-hoc basis or regularly over a fixed period. During the years 2013 to 2015 and the first seven months of 2016 (the track record period), The Group completed 88 fitting-out projects and 15 construction projects.

    Lai Si Enterprise has a well-established reputation with proven track record in the fitting-out and construction industries in Macau. According to the Frost & Sullivan Report, the Group was the second largest commercial fitting-out contractor in Macau by revenue in 2015, with a market share of approximately 6.1%. The Group’s major customers include developers

    and owners of hotels and casinos as well as international retailers. The Group has built a strong rapport with its major customers over the years. The duration of the business relationships between the Group and its top five customers during the track record period ranges from one to ten years. Meanwhile, the Group has built stable business relationships with a number of suppliers and subcontractors, allowing it to effectively maintain the quality

    of its works. This is a crucial factor to the winning of new business and the maintenance of a good reputation in the industry. The Group’s experienced management team possesses extensive industry knowledge. Besides, the Group has a well-developed management system, which has been accredited with ISO 9001:2008 since 2009 and ISO 14001:2004 and OHSAS 18001:2007 since 2014.

    The growing market for fitting-out and construction services in Macau presents opportunities to the Group. Macau deregulated its gambling industry after the return of its sovereignty to China. The Macau government has adopted a policy of making the service sector, especially gambling and tourism, the growth engine of the local economy and supplementing it with other industries. The policy has laid a solid foundation for the long-term, sustainable development in Macau, ushering in rapid development of the gambling and tourism industries in their heyday. The demand for large construction projects, such as those of hotels, shopping malls and casinos, continues to increase. In addition, more and more international brands have opened retail shops in Macau, adding impetus to the fitting-out and construction industries.

    At the listing ceremony of the Company, Mr. LAI Ieng Man, Chairman of the Board and Executive Director of Lai Si Enterprise, said, “We are delighted to witness the debut trading of the Company’s shares on the HKEx, which marks the start of a new journey of Lai Si Enterprise. Currently there is still a limited number of Macau enterprises listed on the main board of Hong Kong’s stock exchange. As a representative of them, Lai Si Enterprise will continue with a prudent and pragmatic approach to business, and run it with integrity and a strong sense of responsibility. The listing also means the transformation of Lai Si Enterprise from a private company to a public enterprise, and it will enhance the Company’s brand image and the market’s awareness of it. The Company will make an effort to help enhance the international reputation of Macau’s enterprises in the world’s capital markets.”

    Mr. LAI Meng San, Chief Executive Officer and Executive Director of Lai Si Enterprise, said, “After the listing, we will endeavor to enhance the transparency of the Group’s operations and standardize its business management. The Group will also leverage Hong Kong’s international capital market to further the development of its business, enhance customer confidence, strengthen its competitiveness and expand the scope of its business. In the future, we will actively capitalize on the market growth, reinforce the Group’s leading position and enhance its competitiveness in the fitting-out and construction industries in Macau. The Group will also actively expand the market coverage to include Hong Kong so as to generate good returns to the shareholders.”

    1491018934.JPGCaption: Mr. Lai Ieng Man, Chairman of the Board and Executive Director (9th from left), Mr. Lai Meng San, Chief Executive Officer and Executive Director (8th from left), Ms. Lai Ieng Wai, Executive Director (8th from right), Ms. Cheong Weng Si, Executive Director (7th from left), Mr. FUNG Kar Fai, Finance Manager and Company Secretary(2nd from right), Mr. Eugene Yeoh, Senior Vice President, Listing Department, HKEX (1st from left), Ms. Helen Zee, Listing Committee Member, HKEX(9th from right), Ms. Bonnie Chan, Head, Events Management, Market Development, HKEX (1st from right), together with management and guests attended the listing ceremony this morning.

    1490943948978899.jpgCaption: Mr. Lai Meng San, Chief Executive Officer and Executive Director (Left) of Lai Si Enterprise presenting a souvenir to Ms. Helen Zee, Listing Committee Member, HKEX (Right).

    1491019200136127.jpgCaption: Mr. Li, chairman and executive director of Li 's corporate board, Mr. Li Wan (left) Li, chief executive officer and executive director of Mr. Li (right)


    Copyright © 2017 Lai Si Construction & Engineering Co.Ltd. All rights reserved.