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CTG Duty Free Targets $3 Billion in Second Hong Kong Listing Attempt

  • Retailer could launch share sale in August or September
  • Earlier plan to raise $5 billion was suspended in December

China Tourism Group Duty Free Corp., the world’s largest travel retailer, is set to relaunch a planned Hong Kong listing that could raise around $2 billion to $3 billion, according to people familiar with the matter.

The offering by the state-owned operator of duty-free businesses across China, Hong Kong, Macau and some Southeast Asian cities could launch as early as August or September, said the people, asking not to be identified as the information is private.