MakeMyTrip looks to raise $3 billion to recoup stake from China’s Trip. com

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Online travel major MakeMyTrip is planning to raise $3 billion through equity and debt sale, according to separate Nasdaq filings on Tuesday. The funds will be used entirely to buy back Class B shares from China’s Trip.com Group, limiting its presence on the Indian company’s board.

MakeMyTrip has proposed a primary offering of 14 million ordinary shares. Underwriters will have a 13-day option to purchase up to 2.1 million additional shares, the company said in its listing.

The online travel agency said in a separate filing that it also plans to offer…



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MakeMyTrip looks to raise $3 billion to recoup stake from China’s Trip. com


Online travel major MakeMyTrip is planning to raise $3 billion through equity and debt sale, according to separate Nasdaq filings on Tuesday. The funds will be used entirely to buy back Class B shares from China’s Trip.com Group, limiting its presence on the Indian company’s board.

MakeMyTrip has proposed a primary offering of 14 million ordinary shares. Underwriters will have a 13-day option to purchase up to 2.1 million additional shares, the company said in its listing.

The online travel agency said in a separate filing that it also plans to offer…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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