Chinese online travel giant Ctrip reportedly in talks with investors to delist from Nasdaq
Reuters reports, citing sources with direct knowledge of the matter
Ctrip is the management of China's largest online travel firm, and has reportedly reached out to a number of strategic investors - including private equity firms - about taking the company private to potentially seek an exchange closer to home.
This comes amid tightened scrutiny and more strict audit requirements from US regulators on Chinese companies listed on US exchanges, something that was brought up in May here as part of ongoing geopolitical tensions between the US and China.
That said, the sources cited by Reuters say that the delisting discussions are at an early stage and could be subject to change.
For some context, there have already been six take-privates of US-listed Chinese companies this year according to Refinitiv. The total worth of those companies were $9.1 billion but Ctrip will outrank all of that with its current market value of $16.5 billion.
This is just part of the ongoing saga between the US and China but as mentioned before, unless this all threatens to break the facade of the Phase One trade deal, it is unlikely to amount to much though the pressures are certainly building day-by-day.