HONG KONG - 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 $9.1 billion so far this year, showed Refinitiv data. The average premiums paid by buyers, however, almost halved to 22% from 42% last year.
Both Ctrip and Baidu have held preliminary talks with Hong Kong Exchanges and Clearing about a possible secondary listing, Reuters reported in January. Its shares have fallen 17% so far this year while the Nasdaq Golden Dragon China Index , which tracks Chinese firms listed on the U.S. exchange, has gained 22% over the same period.
Source: News Formal (newsformal.com)
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