Chinese Travel Platform Ctrip Plans for Secondary Listing in Hong Kong

According to Tencent News, Ctrip plans to return to Hong Kong for a secondary listing and has recently approached a number of Chinese and foreign investment banks. However, the company has not officially selected an investment bank.

This is yet another Chinese company that plans to return to Hong Kong for a secondary listing, after Alibaba successfully returned to Hong Kong for secondary listing in November. At that time, market analysts believed that Alibaba‘s listing on the Hong Kong Stock Exchange may have a leading effect on tech companies that have listed in the United States like and NetEase.

SEE ALSO: Chinese Travel Platform Ctrip Enters Strategic Partnership with TripAdvisor

NetEase is similar to Alibaba in terms of its weighted voting rights structure. (This means the voting power attached to a share of a particular class is superior to the voting power attached to an ordinary share). In April 2018, the Hong Kong stock market ushered in its most significant IPO reform in 24 years, reviving the “weighted voting rights” structure for the first time since 1989. Companies with such a mechanism can apply for listing on the Hong Kong Stock Exchange.

Listed on NASDAQ in the United States in December 2003, Ctrip is an online travel service company. As of January 2, Ctrip’s closing price was $36.97 per share, and its market capitalization was $217.54 billion.