U.S.-listed online travel giant Ctrip is talking to banks about a planned second...
HONG KONG/BEIJING - U.S.-listed online travel giant Ctrip is talking to banks about a planned secondary listing in Hong Kong, putting the group at the head of a queue of Chinese companies expected to follow Alibaba in establishing an investor base closer to China.
Ctrip, which had declined to comment earlier, late on Friday said: “The specific details of the listing reported are not true. The company does not have plans yet for a secondary listing.”CICC, JPMorgan and Morgan Stanley declined to comment. The move comes weeks after the successful $12.9 billion secondary listing of Chinese e-commerce giant Alibaba Group in Hong Kong in November, which was the city’s largest deal since 2010 and the world’s biggest ever cross-border secondary listing.
“A different shareholder base means that you are hedged because the Chinese are going to look at the world very differently from the western investors and as a company you want people to have different views,” he added.
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