Chinese online travel giant Ctrip is in talks with potential investors about funding its delisting from Nasdaq because of rising US-China tensions and the coronavirus-driven hit to its business, reported Reuters.
The management of China’s largest online travel firm, with a current market value of $16.5 billion, has reached out to a number of financial and strategic investors including private equity firms and domestic tech companies about joining a take-private deal, said four Reuters sources.
Ctrip’s move comes as US-listed Chinese companies face tightened scrutiny and more strict audit requirements from US regulators, while geopolitical tensions escalate between the world’s two largest economies. Those have prompted a number of Chinese companies to abandon a New York listing and move instead to an exchange closer to home.