Caixin
Aug 19, 2022 05:02 PM
BUSINESS

CTG Duty Free Raises $2.1 Billion in Hong Kong’s Biggest Listing of the Year

People walk through the CDF Mall, a duty-free shopping complex operated by China International Travel Service, in Sanya, Hainan province, in March 2018. Photo: Bloomberg
People walk through the CDF Mall, a duty-free shopping complex operated by China International Travel Service, in Sanya, Hainan province, in March 2018. Photo: Bloomberg

(Bloomberg) — China Tourism Group (CTG) Duty Free Corp. raised about HK$16.2 billion ($2.1 billion) in its Hong Kong offering, in the year’s biggest listing in the Asian financial hub.

The world’s largest retailer for travelers sold 102.8 million shares at HK$158 each, it said in an exchange filing Friday confirming an earlier report by Bloomberg News. The price represents a discount of about 27.5% to Thursday’s close in Shanghai, according to Bloomberg calculations. The shares are set to start trading in Hong Kong on Aug. 25.

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