13 September, 2016
Ctrip.com International, Ltd. (Nasdaq: CTRP), a leading travel service provider of accommodation reservation, transportation ticketing, packaged tours and corporate travel management in China, announced the pricing of 28.5 million American depositary shares (ADSs) at US$45.96 per ADS. Ctrip also priced the concurrent offering of US$900 million in aggregate principal amount of convertible senior notes due 2022. The pricing of the ADSs and the notes was announced on September 7, 2016. Concurrently with the closing of the ADS and the notes offerings, Ctrip will close private placements of Ctrip’s ordinary shares with Baidu, Inc. and The Priceline Group Inc., both of which are Ctrip’s existing shareholders, at an aggregate amount of US$100 million and US$25 million, respectively, and private placement of US$25 million aggregate principal amount of convertible notes with Priceline.
Skadden represented Ctrip. The Skadden team includes partners Julie Gao, Haiping Li, Jonathan Stone (Hong Kong), Sean Shimamoto (Palo Alto), Michael Hoffman (New York), Asia Pacific Counsel Yuting Wu (Shanghai), and associates Peter Pang (Shanghai), Xi Shi and Yuling Geng (Hong Kong).
