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Ctrip in Talks With Banks for Secondary Listing

January 14, 2020 8:45 am

Beijing (PingWest)—Chinese online travel company Ctrip is talking to banks about a planned secondary listing in Hong Kong, according to Reuters.

With this decision, the group is put at the head of a queue of Chinese companies expected to follow Alibaba in establishing an investor base closer to China. Ctrip has approached China International Capital Corp, JPMorgan, and Morgan Stanley for its planned share sale in Hong Kong, although initially the company declined to comment on the secondary listing.

Also, although no banks have been mandated, more banks may be involved. CICC, JPMorgan, and Morgan Stanley declined to comment. This move comes weeks after the USD 12.9 billion secondary listing of Chinese ecommerce company Alibaba Group in Hong Kong in November 2019.