Attention all travelers and investors! Get ready for some exciting news. Ctrip, the parent company of popular travel booking site Trip.com, is planning to raise a whopping $1.09 billion in its upcoming Hong Kong secondary listing. This move comes as their US shares have already seen a 4% rise this year, making it an investment opportunity not to be missed. Keep reading to find out more about what this means for both avid adventurers and savvy stockholders alike!
What is Trip.com?
Launched in October 2019, Trip.com is a global travel booking site that enables users to search and book travel services including flights, hotels, activities, and car rentals. The site offers a variety of features to help users find the best deals on travel services, including fare comparisons, destination guides, and Trip.com exclusive deals. In addition to its website, Trip.com also offers a mobile app for iOS and Android devices.
What is Ctrip?
Ctrip is a travel booking site that plans to raise $1.09B in its Hong Kong secondary listing. Its US shares have risen ~% this year. Julia Fioretti Bloomberg
Founded in 1999, Ctrip is a China-based travel booking site and one of the largest in the world. The company offers hotel, flight, and package bookings, as well as other travel-related services like car rentals and insurance. Ctrip went public on the Nasdaq in 2003 and has since acquired a number of other companies in the travel space, including Trip.com, Skyscanner, and Qunar. In 2019, Ctrip had around 400 million registered users and generated $30 billion in gross merchandise volume (GMV).
The company has been growing rapidly in recent years, driven by the booming Chinese travel market. Outbound tourism from China has more than doubled over the past five years to reach nearly 200 million trips per year. Ctrip has benefited from this trend, as well as from the rise of mobile usage and e-commerce in China more broadly. According to research firm eMarketer, Ctrip was the third-largest e-commerce company in China by GMV in 2018 behind only Alibaba and JD.com.
Looking ahead, Ctrip continues to invest heavily in technology and innovation with the goal of becoming an even more essential part of its customers’ travel experience. In 2018, it launched a new artificial intelligence (AI
Why is Ctrip listed in Hong Kong?
Ctrip, one of the world’s largest online travel booking sites, plans to list its shares in Hong Kong.
The move comes as the company looks to tap into the growing demand for travel in Asia.
Hong Kong is a major hub for travel and tourism, and Ctrip is hoping to capitalize on this by listing its shares there.
The move will also give Ctrip a secondary listing, which will provide it with greater flexibility when it comes to raising capital.
Sources say that Ctrip could raise up to $1 billion through its Hong Kong listing.
The company’s shares have already been doing well this year, with rising by around 20%.
How have Trip.com’s shares performed this year?
Trip.com’s shares have risen by approximate percent this year, according to Julia Fioretti of Bloomberg. The travel booking site, which is also called Ctrip, plans to raise around $1.09B in its secondary listing in Hong Kong. Trip.com has seen strong growth in recent years, and its share price has reflected that. However, the company faces stiff competition from other travel booking sites, such as Expedia and Priceline.
What else do we know about Ctrip?
Ctrip, one of the world’s largest online travel agencies, is planning to raise $500 million in a secondary listing on the Hong Kong Stock Exchange.
This comes as the company’s U.S.-listed shares have risen nearly 60% this year, giving it a market value of around $20 billion.
Founded in 1999, Ctrip is headquartered in Shanghai and provides booking services for air tickets, hotels, and train tickets in China. The company also offers travel-related services such as accommodation reservations and transportation ticketing.
In recent years, Ctrip has been aggressively expanding its international reach. In 2017, it acquired Skyscanner, a UK-based flight search engine, for $1.74 billion. Earlier this year, it announced plans to invest $150 million in India’s MakeMyTrip, one of that country’s leading travel booking platforms.
It is evident from the news that Ctrip, a travel booking site owned by Trip.com, plans to raise $1.09B in its Hong Kong secondary listing. This follows an increase of close to 4% this year for their US shares and confirms their strong financial standing despite the effects of the pandemic on businesses across industries around the world. This move is likely to provide a further boost in confidence for investors as well as prove beneficial for Ctrip’s future prospects and growth.