MARKETS & INVESTING | Staff Reporter, Hong Kong

Travel site to raise $8.47b in global offering

It priced its offer shares at $268.

Hong Kong-listed Group Limited announced its final offer prices for its global offering at $268 per offer share.

The gross proceeds from the international and Hong Kong public offering to the Company is expected at around $8.47b, before offering expenses and underwriting fees are deducted.

The company noted its ordinary shares are set to begin trading on the Main Board of the Hong Kong Stock Exchange (HKEx) on 19 April, subject to HKEx approval.

Further, proceeds will be used for the expansion of the company’s one-stop travel offerings as well as to improve user experience.

The company also plans to invest in technology to boost its leading market position in products and services. It is also seen to improve their operating efficiency.

In an earlier announcement, the company said it will sell more than 31.6m shares. Of this, 2.2m are for Hong Kong offering, whilst 29.4 will be for its international offering.

Aside from, the Group also consists of other one-stop travel service platforms Skyscanner and Qunar.

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