Boat tour group SeaLink wants to float BOAT tours group SeaLink has announced it wants to float on the Australian Securities Exchange. SeaLink Travel Group Limited was established in 1989 when it bought Philanderer Ferries to transport passengers between Kangaroo Island and the South Australian mainland. Almost a quarter of a century later, it has lodged a prospectus with the Australian Securities and Investments Commission to issue 15 million new shares at an offer price of $1.10 each. A total of 70 million shares will be issued, giving SeaLink a market capitalisation of $77 million. SeaLink chairman Giuliano Ursini said the funds raised from float would be used to buy new vessels, refurbish and upgrade the existing fleet of 18 ships and ferries, and strengthen the balance sheet for future expansion. "The ASX listing will better enable the company to access equity capital markets and give employees and stakeholders, as well as new investors, an opportunity to participate in the ownership of SeaLink and share in the value we intend to create," he said in a statement. In 2011, SeaLink bought Captain Cook Cruises, a leading Sydney Harbour tour company. During that year, it also bought Sunferries in Queensland, which transports passengers to Magnetic Island and Palm Island out of Townsville. This month, it began services from Darwin to Mandorah and the Tiwi Islands. SeaLink's Captain Cook Cruises also owns PW Murray Princess, which operates Murray River cruises. The company sold its New Zealand interests in 2011. It has hopes of capitalising on the growth in Chinese traveller numbers.