CHINA. China Tourism Group Duty Free Co. Ltd. (CTG Duty Free), the parent company of China Duty Free Group (CDFG), issued a statement last night that its board approved a proposal regarding preparatory work related to a secondary listing on Hong Kong’s stock exchange.
CTG is already listed on the Shanghai Stock Exchange.
The future is taking shape: China Tourism Group Duty Free will open the extraordinary Haikou International Duty Free City in mid-2022, which will be anchored by the CDFG’s largest duty free retail complex in the world.
The company claims to be working with relevant intermediaries to issue overseas listed foreign stocks (H-shares) to be listed in Hong Kong.
“Relevant work is being discussed and the specific details of this issue and listing have not yet been established,” warned CTG Duty Free, noting that the listing is still under review and uncertainties remain.
CDFG continues go from strength to strength, with a strong first quarter performance supported by its remarkable performance in Hainan. In 2020, CDFG became the world’s leading travel retailer based on total sales, according to The Moodie Davitt Report.
More details will follow.
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