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CTG Duty Free Raises $2.1 Billion in Hong Kong Listing

  • The world’s largest travel retailer sold 102.8 million shares
  • Firm’s Hong Kong shares will begin trading on Aug. 25
A duty free shop at Daxing international airport in Beijing.

A duty free shop at Daxing international airport in Beijing.

Photographer: Nicolas Asfouri/AFP/Getty Images
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China Tourism Group 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.