Priceline invests US$300 million in Ctrip
Priceline has invested a total of US$1 billion in Ctrip since August and currently holds 7.9% of Ctrip’s shares
Priceline recently bought approximately 3 million of Ctrip’s American Depository Shares (ADS) on the stock market for US$300 million. Priceline has invested a total of US$1 billion in Ctrip since August and currently holds 7.9% of Ctrip’s shares.
On August 7th 2014, Priceline and Ctrip concluded an investment and partnership agreement. Priceline’s investment was in the form of a purchase of US$500 million in convertible bonds from Ctrip. In September 2014, Priceline bought 2,171,170 (ADS) shares from Ctrip on the stock market.
Priceline now holds 11,238,955 of Ctrip’s (ADS) shares. This is a combination of the purchases of over 3 million shares in October, over 2 million shares in September, and 6,145,350 previously held shares. (Translation by David)