Posted on: April 19, 2021 Posted by: Betty Lee Comments: 0


On-line journey company Journey.com made a robust debut in Hong Kong on Monday, with shares rising greater than 4% from their concern worth in afternoon commerce.

The China-based firm now joins different U.S.-listed Chinese language tech heavyweights resembling Alibaba, JD.com and Baidu which have returned nearer to residence by way of secondary choices in Hong Kong. It priced its preliminary public providing at 268 Hong Kong {dollars} per share, and raised 8,478 million Hong Kong {dollars} ($1.09 billion) assuming the over allotment choice just isn’t exercised.

The secondary itemizing comes as Chinese language tech firms proceed to face the specter of being delisted within the U.S., clouding investor sentiment.

This Could vacation we have already got … a number of the quantity(s) coming in and we’re taking a look at file variety of vacationers in China — most likely even double digit progress from the pre-Covid ranges.

James Liang

government chairman, Journey.com Group

James Liang, government chairman of Journey.com Group, advised CNBC the “predominant cause” for the corporate’s secondary itemizing in Hong Kong was to make it extra handy for world traders in Asia and China to commerce its inventory.

“Most of our clients are in Asia, I believe it is truly fairly pure for us to (be) listed in Hong Kong,” he mentioned Monday in an interview with CNBC’s “Road Indicators Asia.”

‘Very optimistic’ about Could holidays

At the same time as a lot of the worldwide journey market continues to falter because of the coronavirus pandemic, Journey.com expects a “file variety of vacationers in China” in the course of the upcoming lengthy vacation in Could.

“This Could vacation we have already got … a number of the quantity(s) coming in and we’re taking a look at file variety of vacationers in China — most likely even double digit progress from the pre-Covid ranges,” based on Liang. The Labor Day holidays run from Could 1 to five in China.

Specifically, larger finish lodging resembling resorts and brief distance journey are anticipated to see “very, very quick progress” that would truly greater than offset the decline in worldwide journey, Liang projected.

An worker walks via the reception space on the Journey.com Group Ltd. headquarters in Shanghai, China, on Thursday, Feb. 4, 2021.

Qilai Shen | Bloomberg by way of Getty Photos



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