Journey.com up greater than 4% in Hong Kong IPO, bullish on China journey in Might


On-line journey company Journey.com made a robust debut in Hong Kong on Monday, with shares rising round 4.55% from their situation worth.

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 dwelling 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 possibility just isn’t exercised.

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

This Might vacation we have already got … among the quantity(s) coming in and we’re document variety of vacationers in China — most likely even double digit development from the pre-Covid ranges.

James Liang

govt chairman, Journey.com Group

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

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

‘Very optimistic’ about Might holidays

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

“This Might vacation we have already got … among the quantity(s) coming in and we’re document variety of vacationers in China — most likely even double digit development from the pre-Covid ranges,” in response to Liang. The Labor Day holidays run from Might 1 to five in China.

Specifically, increased finish lodging resembling resorts and brief distance journey are anticipated to see “very, very quick development” that might really greater than offset the decline in worldwide journey, Liang projected.

An worker walks by means of 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 Pictures



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