Nasdaq-listed Chinese travel site Trip.com files for Hong Kong secondary listing

SourceCNBC
SectorEconomy
CountryMiddle east

Trip.com has filed for a secondary listing in Hong Kong. The Chinese travel booking site is already listed on the Nasdaq in the U.S. GUANGZHOU, China — Chinese travel booking site Trip.com has filed for a secondary listing in Hong Kong, following other high profile names like Alibaba and Baidu, to raise money in the financial hub. Trip.com, which is currently listed on the Nasdaq in the U.S., did not disclose the number of shares it will issue nor the price they will list for. That is usually determined some time after the initial filing in Hong Kong. JPMorgan, CICC and Goldman Sachs will be the joint sponsors of the secondary listing. A number of U.S.-listed Chinese technology companies have done secondary listings in Hong Kong including Alibaba, JD.com, Baidu and Bilibili. Continuing tensions between the U.S.

and China have threatened to hit foreign firms listed on U.S. exchanges. Last month, the U.S. Securities and Exchange Commission adopted a law which increases the auditing requirements...read more...