CHINA. The parent company of the China Duty Free Group, China Tourism Group Duty Free (“China Tourism Group”), could be discontinued as early as this week for its much-anticipated secondary listing on the Hong Kong Stock Exchange. Reuters IFR reported.
The company is already listed on the Shanghai Stock Exchange.
As reported, China Tourism Group issued a statement on April 21 stating that its board of directors had approved a proposal regarding preparatory work related to the secondary listing.
According to Reuters IFR, the group intends to pool around $ 7-10 billion from the additional listing.
Given the outstanding recent performance of the China Duty Free Group, which resulted in Hainan’s offshore duty free market leading it to number one in the Moodie Davitt Report’s top 25 travel retailers based on sales in 2020 rose, acceptance is sure to be strong.
The future is taking shape: The China Tourism Group Duty Free will open the extraordinary Haikou International Duty Free City in mid-2022 – anchored by the CDFG’s largest duty-free retail complex in the world.
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