Journey.com up greater than 4% in Hong Kong IPO, bullish on China journey in Might


On-line journey company Journey.com made a powerful debut in Hong Kong on Monday, with shares rising greater than 4% from their concern value in afternoon commerce.

The China-based firm now joins different U.S.-listed Chinese language tech heavyweights comparable to Alibaba, JD.com and Baidu which have returned nearer to residence through secondary choices in Hong Kong. It priced its preliminary public providing at 268 Hong Kong {dollars} per share, and raised 8,478 million Hong Kong {dollars} ($1.09 billion) assuming the over allotment choice shouldn’t be exercised.

The secondary itemizing comes as Chinese language tech firms proceed to face the specter of being delisted within the U.S., clouding investor sentiment.

This Might vacation we have already got … a few of the quantity(s) coming in and we’re taking a look at file variety of vacationers in China — most likely even double digit progress from the pre-Covid ranges.

James Liang

government chairman, Journey.com Group

James Liang, government chairman of Journey.com Group, advised CNBC the “foremost motive” for the corporate’s secondary itemizing in Hong Kong was to make it extra handy for world buyers in Asia and China to commerce its inventory.

“Most of our prospects are in Asia, I feel it is truly fairly pure for us to (be) listed in Hong Kong,” he mentioned Monday in an interview with CNBC’s “Avenue Indicators Asia.”

‘Very optimistic’ about Might holidays

Whilst a lot of the worldwide journey market continues to falter because of the coronavirus pandemic, Journey.com expects a “file variety of vacationers in China” through the upcoming lengthy vacation in Might.

“This Might vacation we have already got … a few of the quantity(s) coming in and we’re taking a look at file variety of vacationers in China — most likely even double digit progress from the pre-Covid ranges,” in line with Liang. The Labor Day holidays run from Might 1 to five in China.

Specifically, increased finish lodging comparable to resorts and quick distance journey are anticipated to see “very, very quick progress” that might truly greater than offset the decline in worldwide journey, Liang projected.

An worker walks via the reception space on the Journey.com Group Ltd. headquarters in Shanghai, China, on Thursday, Feb. 4, 2021.

Qilai Shen | Bloomberg through Getty Photos



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