Deals
China Tourism Group Duty Free Guides Hong Kong Share Pricing in Upper Half of Range, Sources Say
- World’s largest travel retailer selling 102.8 million shares
- Firm poised for Hong Kong’s biggest listing this year
Pedestrians walk past an electronic ticker board outside the Hong Kong Stock Exchange.
Photographer: Justin Chin/BloombergThis article is for subscribers only.
China Tourism Group Duty Free Corp. is telling prospective investors it plans to price its Hong Kong share sale in the upper half of its marketed range, according to people familiar with the matter, in what could be this year’s biggest listing in the Asian financial hub.
The world’s largest travel retailer expects to stop taking investor orders around noon Thursday, the people said, asking not to be identified as the information is private. The Shanghai-traded company is offering 102.8 million shares in Hong Kong at HK$143.50 to HK$165.50 each. At the top price, it would raise HK$17 billion ($2.2 billion).