Jan 03, 2020 (China Knowledge) - According to insiders, China’s online travel agency Trip.com (TCOM) and internet giant NetEase (NTES), which are listed in the U.S., are planning secondary listings on the HKEx.
The tech giants’ plans come after Alibaba’s recent USD 13 bln secondary listing in Hong Kong in last Nov. With U.S. authorities stepping up checks, it is also likely that more and more U.S-listed tech companies from China will likely opt for dual-listing in both U.S. and Hong Kong.
Trip.com and NetEase are currently two of the biggest tech companies in China, with an estimated combined value of USD 60 bln. Trip.com was first listed in the U.S. on NASDAQ in 2003, whereas NetEase was first listed on NASDAQ in 2000.
It is reported that Hong Kong Exchanges & Clearing is current in discussion with both Trip.com and NetEase with regard to the secondary listings. Both NetEase and Trip.com declined to comment on the reported secondary listing plans.
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