Tempus Global will make a private offering of up to 70 million shares to raise up to RMB1.598 billion (approx: US$257 million) from five specified buyers, among them its actual controller Baisheng Zhong. Mr. Zhong will pay no less than RMB160 million (approx: US$25.77 million) for at least 10% of the offered shares.
Tempus Global will allocate the funds to various projects including RMB895 million (approx: US$144 million) for its O2O international multi-channel platform, RMB180 million (approx: US$29 million) for its travel management cloud platform, RMB235 million (approx: US$37.8 million) for its online tourism financial service platform, RMB163 million (approx: US$26 million) for its tourism and online financial big data platform development and the remaining RMB125 million (approx: US$20 million) will be retained for cash flow. The additional investment is expected to help Tempus Global achieve RMB547 million (approx: US$88 million) in annual revenue and RMB155 million (approx: US$25 million) in net profit after tax.
Tempus Global’s O2O platform project includes setting up an online platform as well as a domestic and international offline service centers. After completing its O2O service, operational management and procurement system, Tempus Global expects to receive RMB468 million (approx: US$75 million) in annual revenue and RMB124 million (approx: US$19.9 million) in net profit after tax from the project.
Tempus Global will also leverage commissioned development and outsourcing to set up its travel management platform system, payment management and mobile sales system for its cloud platform. The project will generate RMB79.15 million (approx: US$12.7 million) in annual revenue and RMB31.36 million (approx: US$5 million) in net profit after tax.(Translation by David)
