Ctrip plans secondary listing in Hong Kong

Friday, 12 Jan, 2020 0

China online travel giant Ctrip is pushing ahead with a planned secondary listing on the Hong Kong bourse.

Ctrip has a primary listing in the US and is now in talks with China International Capital, JPMorgan and Morgan Stanley to list about 10% of shares in Hong Kong.

It follows a successful $12.9 billion secondary listing in Hong Kong by Alibaba.

That was the city’s largest deal for a decade.

Ctrip, also known as Trip.com, may list during the first half of this year according to people familiar with the matter.

Ctrip launched on the US Nasdaq in 2003.

Other tech firms including NetEase and Baidu have apparently made plans for secondary listings in Hong Kong.

Ctrip is keen on establishing an investor base close to China.

It will be a boost for Hong Kong which has seen its reputation as a global business centre take a knock amid months of anti-government protests.

Charles Li, chief executive of Hong Kong Exchanges & Clearing told Reuters he expects more US-listed companies with Chinese roots to follow Alibaba.

"I think just by their nature they will come, because their customers know them and they will potentially get a better valuation re-rate if your customer know your business and wants to become your shareholder," he said.

below social share icons

TravelMole Editorial Team

Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.

The superpower in bed banks for 30 years We are an award-winning and trusted accommodation wholesaler since 1991. We are...

Located in the Mediterranean and connecting Asia and European continents that are separated by the famous Bosphorus, Türkiye is a...

IHG Hotels & Resorts: Redefining Hospitality Excellence IHG Hotels & Resorts is a globally renowned hospitality company that stands at...

Nium was founded on the mission to build the global payments infrastructure of tomorrow, today. With the onset of the on-demand...

Consisting of the three Maritime provinces of New Brunswick, Nova Scotia, and Prince Edward Island as well as Newfoundland and...

At Wilderness Safaris we believe in creating life-changing journeys and have been doing so for over 39 years. Our purpose...

It’s easy to find perfection in Santa Barbara, but what if there was even more of your favorite finds, activities,...

Air Transat is Canada’s number one leisure airline. It flies to some 60 international destinations in more than 25 countries...

Offering the most powerful portfolio in the industry, our 30 brands and 8,000+ properties across 139 countries and territories give...

We work with reliable data providers with global coverage, that guarantee data representativeness as well as compliance with International Personal...

From the beginning, ATI’s philosophy has been “innovation, not duplication.“ Developing specialized technology solutions to connect over 30,000 accommodation, attracti...

To say Sweden is fit for a fairy tale is not overstating it—the palaces dazzle, the boreal forests are brimming...

MGM Resorts International (NYSE: MGM) is an S&P 500® global entertainment company with national and international locations featuring best-in-class hotels...

Our Mission Ecommerce has transformative powers, and we believe everyone should be able to take part. But outdated solutions and...

Our leadership is bold. Our agility thrives on open innovation and we embrace the new, whether it’s diversity, trends, challenges....

Global Hotel Alliance brings together a unique collection of independent hospitality brands for GHA DISCOVERY, a multi-brand loyalty programme. GHA...