Tencent technology news, it is reported that Ctrip plans to be listed in Hong Kong in April, raising 1 billion to 2 billion US dollars. Affected by this news, Ctrip's pre market increase further expanded to 15%.
On February 20, Tencent News "first line" learned that Ctrip had formally submitted its application for secondary listing to the Hong Kong Stock Exchange before the Spring Festival, and hired three investment banks, namely CICC, Goldman Sachs and JPMorgan Chase, to sponsor its listing.
In accordance with the procedures of the Hong Kong stock exchange, the public can hand in the form of return to Hong Kong for secondary listing in secret. In other words, Ctrip does not need to publish specific listing information on the website of Hong Kong Stock Exchange before it passes the hearing.
More than a year has passed since Ctrip plans to go public in Hong Kong. As early as the end of 2019, Tencent News "first line" once exclusively learned that Ctrip executives, including Ctrip CEO Sun Jie, met with many Hong Kong investment banks in batches, and started the plan to return to Hong Kong for a second listing.
However, with the outbreak of the epidemic, Ctrip, as a platform mainly relying on the tourism industry to generate income, suffered heavy losses in all its businesses. At one point, its share price fell from $35 in December 2019 to $20 later.
Public information shows that before the epidemic, the net revenue of Ctrip was 8.3 billion yuan in the fourth quarter of 2019, but after the epidemic, the net revenue of Ctrip in the first quarter and the second quarter of 2020 was only 4.7 billion yuan and 3.3 billion yuan respectively.
This also directly led to Ctrip back to Hong Kong secondary listing process slowed down for more than a year.
Ctrip's latest financial data slightly improved. At the beginning of December 2020, Ctrip announced its financial data for the third quarter of 2020, with net operating income of 5.5 billion yuan and net profit of 1.6 billion yuan.
Although Ctrip achieved profit for the first time after the epidemic, its overall revenue is still far behind that before the epidemic. This is also one of the concerns of fund managers in Hong Kong about whether to place an order for Ctrip's IPO.
As of press release, Ctrip has no specific timetable for the time being, because it still needs to be arranged according to the hearing time of the Hong Kong stock exchange.