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Ctrip prices secondary share offering

Ctrip.com International Ltd. on Sept. 27 priced its secondary offering of 31,304,352 American depositary shares by shareholder Baidu Inc. at $28 per ADS.

Each ADS represents 0.125 ordinary share of the travel services company.

Ctrip and Baidu have agreed to be subject to lock-up restrictions for 90 days and 180 days, respectively, after the offering.