in the morning of october 16, 2019, a joyous gong sounded in the hong kong stock exchange, infinity strategic partner huafa group's member enterprise, hong kong johnson holding co., ltd., the largest local environmental health service provider, officially announced the listing on the main board with stock code 01955 and the initial public offering of 125 million shares.
with the global economy continuing to decline and hong kong's capital market jittery, johnson holding's performance is exceptionally bright--hong kong's public subscription ratio is as high as 50 times, opening 60% higher on the day of listing, opening price is hk$ 1.6, the highest transaction price is hk$ 216, and the transaction volume reaches hk$ 582 million, which is recognized and highly praised by hong kong and international investors.
in august 2015, under infinity's introduction and promotion, huafa group acquired 49% of johnson holdings through its wholly-owned subsidiary hong kong huafa and huajin international capital, a main board listed company. in 2016, huafa group has begun preparations for the listing of johnson holdings. in november 2017, huafa group further increased its 10% stake in johnson holding, with a holding ratio of 59%, becoming an absolute controlling shareholder. starting from 2017, huafa group officially started the listing of johnson holdings and formally submitted the listing form to the hong kong stock exchange at the end of january 2019.
established in 1979, johnson holdings is hong kong's leading environmental health service provider with over 8,000 full-time employees. as a market pioneer in hong kong's environmental health service industry, johnson holdings has been providing services such as building cleaning, park and recreation center cleaning, street cleaning, and college cleaning to hong kong government departments and large commercial organizations for many years.
since huafa group's strategic investment in zhuangchen holdings, it has actively promoted johnson holdings to improve its management and expand its business. the company's performance has maintained steady growth. from 2016 to 2018, johnson holdings' annual operating income reached hk$ 1.2 billion, hk$ 1.27 billion and hk$ 1.43 billion respectively. according to the report of authoritative research institutions, among the environmental health service providers rooted in hong kong, johnson holdings ranked first in hong kong with a market share of 10.2% in terms of operating income.
the relevant person in charge of johnson holding said that he hopes to improve the operating efficiency through listing and maintain a stable and sufficient working capital. next, johnson holding will actively bid for and undertake more new projects from government and commercial lines. by continuously expanding service types, improving service quality and improving operating flexibility, he will gain more market share in hong kong's environmental health service industry, consolidate its leading position in the industry and strive to bring maximum returns to shareholders and investors.