A floor trader walks during afternoon trading at the Hong Kong Stock Exchange in Hong Kong, China, 26 September 2016. Picture taken September 26, 2016. REUTERS/Bobby Yip/Files
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HONG KONG, June 30 (Reuters) – China Tourism Group Duty Free Corp Ltd (601888.SS) is aiming to raise US$2-3 billion in a secondary listing in Hong Kong, two people with direct knowledge of the matter told Reuters.
The company filed updated filings with the Hong Kong Stock Exchange on Thursday as it begins its second attempt in a year to list in the city.
The sources declined to be named as the information was not public.
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China Tourism did not immediately respond to an email request for comment sent outside of China business hours.
The filings did not specify the size or timing of the deal, but the two sources said the company would aim to raise $2-3 billion.
A deal could happen as early as the third quarter of 2022, they added.
Shares of the company rose 6.3% on Thursday to the highest close since November.
China Tourism wanted to raise about $6 billion in Hong Kong last year but shelved the deal in December amid the impact of the pandemic and volatile financial markets.
According to its records, the company has more than 200 duty-free shops in China, Hong Kong, Macau and Cambodia.
China Tourism said its business has been severely impacted by the pandemic in mainland China and travel restrictions.
But it said the impact on revenue had been lessened by rule changes introduced to boost domestic consumption and revitalize the Chinese economy.
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Reporting by Scott Murdoch in Hong Kong Editing by Mark Potter
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