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[Travel News]: Trip.com plans to raise about $1.09 billion in Hong Kong listing

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The following is the [Travel News]: Trip.com plans to raise about $1.09 billion in Hong Kong listing from [Bloomberg] recommended by TheTourAttraction.com:

The shares are due to start trading in Hong Kong on April 19.

Online travel platform Trip.com Group Ltd. is telling prospective investors it plans to price its Hong Kong second listing at HK$268 per share, on track to raise about USD 1.09 billion, according to people familiar with the matter.

The price represents a discount of about 2% to Trip.com’s closing price of USD 35.20 on Monday on the Nasdaq, the people said, asking not to be identified as the information isn’t public. The company is offering 31.6 million shares in the Hong Kong share sale. It has set a maximum price of HK$333 for the portion of the deal reserved for retail investors.

One of Trip.com’s American depositary shares is equivalent to one ordinary share. The shares are due to start trading in Hong Kong on April 19. An external representative for the company didn’t immediately respond to a request for comment.

Trip.com’s U.S. shares have risen about 4% this year, giving the firm a market capitalization of USD 21 billion. It is part of a wave of U.S.-listed Chinese companies seeking a trading foothold in Hong Kong which has seen some of the country’s biggest tech giants such as Alibaba Group Holding Ltd. and JD.com Inc. raise over USD 36 billion since late 2019, data compiled by Bloomberg show.

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