|Bid||N/A x N/A|
|Ask||N/A x N/A|
|Day's Range||2.4100 - 2.4100|
|52 Week Range||1.8800 - 2.4800|
|Beta (5Y Monthly)||0.73|
|PE Ratio (TTM)||9.88|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||May 30, 2019|
|1y Target Est||N/A|
(Bloomberg) -- Online travel platform Trip.com Group Ltd. is seeking to raise as much as HK$10.5 billion ($1.4 billion) in a Hong Kong second listing, adding to the growing cohort of U.S.-traded Chinese companies selling shares in the Asian financial hub.Nasdaq-listed Trip.com is offering 31.6 million shares, according to a statement Wednesday. It has set a maximum price of HK$333 for the portion of the deal reserved for Hong Kong retail investors. That price translates into more than a 6% premium to the company’s closing price in New York on Tuesday, prior to the announcement.Trip.com’s American depositary shares closed 3.4% lower on Wednesday, giving the firm a market value of $23.3 billion.The company plans to price the offering April 13 Hong Kong time, the statement shows. One of Trip.com’s ADS is equivalent to one ordinary share.Trip.com is the fourth U.S.-listed Chinese firm to seek a trading foothold in Hong Kong this year. Search giant Baidu Inc., video streaming service Bilibili Inc. and car sales website Autohome Inc. raised a combined $6.4 billion in the first quarter, according to data compiled by Bloomberg.The companies have been flocking to Hong Kong as a way to hedge against the risk of being kicked off U.S. exchanges as a result of rising Sino-U.S. tensions, as well as to bring in more Asia-based investors. Last year, such second listings raised $17 billion.Still, Trip.com’s share sale in the city comes as tech shares globally are losing their shine. Investors are rotating out of richly valued growth stocks into ones that are expected to benefit from a recovery of the global economy.Baidu has dropped 12% from its listing price in Hong Kong, while Bilibili’s second-listing shares have risen 8.2% after a lackluster debut which saw them close below their offer price.Trip.com, which owns travel search website Skyscanner, reported revenue of 18.3 billion yuan ($2.8 billion) last year, a 49% drop year-on-year due to the coronavirus pandemic, according to its prospectus. It lost 3.27 billion yuan in 2020 after making a profit of almost 7 billion yuan in 2019. While a recovery in international travel has been slow as the pandemic eases, travel within China has rebounded thanks to its relative success in containing Covid-19.The company plans to use the proceeds from the listing to fund the expansion of its travel offerings, improve user experience and invest in technology.JPMorgan Chase & Co., China International Capital Corp. and Goldman Sachs Group Inc. are joint sponsors for Trip.com’s listing. HSBC Holdings Plc and CMB International Capital Ltd. are also helping lead the deal as joint global coordinators, according to a regulatory filing Wednesday.ICBC International Securities Ltd., BOC International Holdings Ltd., CCB International Holdings Ltd., ABC International Holdings Ltd., DBS Group Holdings Ltd., Mizuho Financial Group Inc., Haitong International Securities Group Ltd. and Nomura Holdings Inc. are joint bookrunners, the filing shows.(Updates with ADS closing price in third paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
China International Capital Corporation Limited ("CICC" or "the Company", 601995.SH, 3908.HK) announced its annual results for the year ended December 31, 2020. As at the end of 2020, the total assets of the Company amounted to RMB521.62 billion, representing an increase of 51.2% compared with that at the end of 2019; net assets(note) amounted to RMB71.63 billion, representing an increase of 48.3% compared with that at the end of 2019. The Company recorded total revenue and other income of RMB32.40 billion, representing an increase of 42.2% year on year; and net profit(note) of RMB7.21 billion, representing an increase of 70.0% year on year, with a weighted average return on net assets of 13.5%.
(Bloomberg) -- Chinese fintech company Linklogis Inc., backed by Tencent Holdings Ltd., is seeking to raise HK$8.3 billion ($1.07 billion) from an initial public offering in Hong Kong.The Shenzhen-based company is selling 452.9 million shares at HK$16.28 to HK$18.28 apiece, according to a filing to the Hong Kong stock exchange on Friday. The company plans to price the offering on March 31 and list on the exchange April 9.Linklogis’s offering will test the appetite for first-time share sales after Hong Kong’s benchmark stock gauge slumped into a technical correction on Wednesday. Shares of internet giant Baidu Inc. ended flat in their debut in the city Tuesday and have fallen every day since.Linklogis provides technology solutions for supply chain finance in China. While Linklogis’s prospectus shows the firm hasn’t made a profit in three years, it said sales from its supply chain finance solutions expanded 47% last year following an 83% surge in 2019.The share sale attracts six cornerstone investors who have agreed to subscribe a total of $365 million of stock, according to the filing. BlackRock Inc. and Fidelity will each buy $100 million of shares, while Janus Henderson Funds, The Ontario Teachers’ Pension Plan Board and Sequoia China will each purchase $50 million. Singapore’s EDB Investments will snap up $15 million.Goldman Sachs Group Inc. and China International Capital Corp. are joint sponsor of the deal.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.