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Doris Yu · · 1 min readSources: China’s Trip.com may raise up to $1.09b in HK listing
“Online travel platform Trip.com Group is telling prospective investors it plans to price its Hong Kong second listing at HK$268 (US$34.4) per share, on track to raise about US$1.09 billion,” reported Bloomberg, citing people familiar with the matter.
Details:
- Trip.com is offering 31.6 million shares in the Hong Kong market and has set HK$333 (US$42.8) as a maximum price for retail investors.
- It’s expected to start trading on April 19.
Context:
- The Chinese company’s shares in the US have increased by 4% this year, boosting its market capitalization to US$21 billion.
- Trip.com’s listing comes after several US-listed Chinese companies, including Alibaba, JD.com, and Baidu, pursued secondary listings in Hong Kong amid rising China-US tensions.
Currency converted from Hong Kong dollar to US dollar: US$1 = HK$7.77
Editing by Miguel Cordon
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