Trip.com Group Ltd. is considering a second stock market listing in Hong Kong, Reuters reported Jan. 10, citing four people familiar with the development.
The travel and tour operator, which is listed on the Nasdaq but has its headquarters in Hong Kong, reportedly tapped Morgan Stanley, JP Morgan Chase and China International Capital Corp. Ltd. for the listing.
The company plans to sell at least 10% of its shares within the first half of 2020 and could raise at least $2 billion, according to Reuters.
Trip.com did not immediately respond to S&P Global Market Intelligence's request for comment. Its share were trading 2.37% up at $38 apiece during premarket trading on the Nasdaq.
Other Chinese companies including NetEase Inc. and Baidu Inc. have had preliminary discussions with the Hong Kong bourse for a secondary listing, the news wire reported. In November 2019, Alibaba Group Holding Ltd. listed in Hong Kong, raising HK$13.99 billion.
Trip.com changed its name from Ctrip in October 2019.