China’s Trip.com and Ctrip Merge to Create a $1.09B
In a move that is expected to create a dominant player in the Chinese travel market, China’s two biggest online travel agencies, Trip.com and Ctrip, have announced their merger to create a $1.09 billion Hong Kong listing. The merger comes as the country’s tourism industry has been hit hard by the COVID-19 pandemic, and the companies hope that the combined entity will provide a boost to the industry.
Trip.com Raises $1.09 Billion in Hong Kong Secondary Listing
Trip.com, the Chinese online travel giant, has successfully raised $1.09 billion in its secondary listing on the Hong Kong Stock Exchange. The company’s shares began trading on April 19, 2021, under the ticker symbol “9961.HK”. This move is part of Trip.com’s strategy to expand its business and strengthen its position in the global market.
The Rise of Trip.com and Ctrip: A Look at Their $1.09B Hong Kong Listing
In September 2020, Trip.com Group announced its plans to list its shares in Hong Kong, raising $1.09 billion in the process. This listing was seen as a major milestone for the company, solidifying its position as a major player in the travel industry. The funds raised from the listing will be used to expand Trip.com’s business and invest in technology.
Sources trip.com 1.09b kong usfiorettibloomberg
Trip.com, formerly known as Ctrip, is a leading online travel booking platform that has successfully raised $1.09 billion in its Hong Kong listing. The company is listed on the Hong Kong Stock Exchange under the ticker symbol “9961”. The funds raised from the listing will be used to expand Trip.com’s business and invest in technology.
Ctrip’s Plan to Bolster its Presence in the Global Market
The $1.09 billion Hong Kong investment is part of Ctrip’s plan to significantly strengthen its presence in the global market. In the past, Ctrip has made strategic investments, including a partnership with Expedia to improve its global presence and the purchase of a stake in India’s largest airline, IndiGo. By expanding its business and investing in key partnerships, Ctrip aims to solidify its position as a major player in the global travel industry.
In conclusion, the merger between Trip.com and Ctrip to create a $1.09 billion Hong Kong listing is expected to have a significant impact on the Chinese travel market and provide a boost to the country’s tourism industry. The funds raised from the listing will be used to expand the companies’ businesses and invest in technology, further strengthening their positions as major players in the travel industry. With Ctrip’s plans to bolster its presence in the global market through strategic investments and partnerships, the combined entity is poised for further growth and success.