Ctrip’s $2.3b equity combo a roaring success

China’s leading travel agency completes the largest dual-tranche equity fundraising ever from an Asia ex-Japan issuer.

Ctrip’s $2.3b equity combo a roaring success

Chinese travel giant Ctrip.com International got overwhelming demand for its $2.3 billion dual-tranche equity offering this week, showing international investors' confidence in China's burgeoning travel market.

Nasdaq-listed Ctrip's success was underlined not only by the fact it put together one of the biggest order books for an Asian issuer in recent years but also the extremely tight pricing it achieved for both its convertible bonds and a secondary offering of American Depositary Shares...

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