- General
- July 28, 2020
- 3 minutes read
Brief: Ctrip Looking To Go Private
Ctrip CEO Jane Sun. Photo credit: Shawn Koh/Fortune, under Creative Commons license Chinese online travel giant Ctrip is looking to…
Ctrip CEO Jane Sun.
Photo credit: Shawn Koh/Fortune, under Creative Commons license
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Chinese online travel giant Ctrip is looking to delist from the Nasdaq stock exchange by stitching together a go-private deal, as first reported by news site Reuters. According to Reuters, Ctrip has reached out to potential strategic investors including private equity firms and fellow Chinese technology companies about joining a possible buyout. Chinese companies listed on U.S. stock exchanges are facing ever-increasing scrutiny and stricter audit requirements on the heels of sizeable accounting scandals, Luckin Coffee the latest, originating from Chinese companies listed in the US. It’s such that Baidu, one of China’s tech giants, has also considered delisting from the U.S.
Currently (as of writing), Ctrip sports a market capitalization hovering around $17 billion. This implies that a possible take-private deal would involve even higher amounts and mark one of the biggest in the Chinese technology industry if pulled through. Ctrip went public way back in 2003 and has remained a publicly-traded company since that time.