HONG KONG :China Tourism Group Duty Free Corp is aiming to launch its Hong Kong listing worth up to $2.74 billion on Friday in what would be the city's largest share sale in 2022, said two sources with direct knowledge of the matter.
At that size, a deal would be worth $2.74 billion, based on the company's Shanghai market value of 370.2 billion yuan on Monday, but a discount is always applied to Hong Kong secondary share sales.China Tourism did not immediately respond to a request for comment. China Tourism's shares close down 4.7 per cent per centon Monday after more areas on China's southernmost province of Hainan, an island dependent on tourism, was forced into lockdown to curb a COVID outbreak.
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