THE WHAT? China Tourism Group Duty Free Corporation Limited, parent company of China Duty Free Group, has reapplied for a public listing on the Hong Kong Stock Exchange, according to a report by DFNI Frontier.
THE DETAILS The secondary filing was made this month, and doesn’t include the size of the deal or timeframe.
Financial advisers have stated that elements such as weaker Q1 2022 results, the negative impact of COVID-19, and new agreements with Guangzhou Airport should be taken into account.
THE WHY? It’s the second time round for the company, which filed an IPO in Hong Kong last year, aiming to raise US$6 billion. This was subsequently cancelled due to the volatility of the pandemic.