Chinese online travel giant Ctrip is in talks with potential investors about funding its delisting from Nasdaq because of rising U.S.-China tensions and the coronavirus-driven hit to its business, sources told Reuters.
Ctrip's delisting discussions, which have not been reported previously, are at an early stage and are subject to change, cautioned the sources, who spoke on condition of anonymity because the matter is not public.There have been six announced take-privates of U.S.-listed Chinese companies worth US$9.1 billion so far this year, showed Refinitiv data. The average premiums paid by buyers, however, almost halved to 22per cent from 42per cent last year.
Ctrip later decided to delist as the coronavirus outbreak hit its businesses badly in the first half and has weighed heavily on its valuation, said one of the people.
Source: Holiday News (holidaynews.net)
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