Ctrip takes cornerstone stake in Zhejiang New Century's $180m HK IPO

Ctrip takes cornerstone stake in Zhejiang New Century's $180m HK IPO

REUTERS/Bobby Yip

Zhejiang New Century Hotel Management, one of mainland China’s largest private hotel groups, is raising up to HK$1.4 billion (about $180 million) in an initial public offering in Hong Kong, with online travel agency Ctrip taking $32-million worth of shares, according to its amended filing.

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