Trip.com Group Announces Updates on Its Investments in MakeMyTrip

Trip.com Group (TCOM) announced a strategic move to sell a portion of its Class B ordinary shares in MakeMyTrip back to the company for cancellation.

Rhea-AI Summary

Trip.com Group (TCOM) announced a strategic move to sell a portion of its Class B ordinary shares in MakeMyTrip back to the company for cancellation. This decision aligns with Trip.com's strategy to optimize its investment portfolio and enhance shareholder value. Despite the partial sale, Trip.com will maintain its position as MakeMyTrip's largest minority shareholder. To finance this share repurchase, MakeMyTrip is launching a convertible senior notes offering under Rule 144A and a concurrent public offering of ordinary shares. Trip.com has agreed to a 180-day lock-up period with standard exceptions as part of the transaction terms.

Positive

• Trip.com Group will remain the largest minority shareholder in MakeMyTrip, maintaining strategic influence
• The sale optimizes Trip.com's investment portfolio and aims to enhance shareholder returns
• The transaction provides Trip.com with immediate capital return while maintaining strategic partnership

Negative

• 180-day lock-up period restricts Trip.com's ability to sell remaining MakeMyTrip shares
• Reduction in ownership stake could potentially decrease Trip.com's influence in MakeMyTrip
• The sale might result in a diluted ownership position once MakeMyTrip's convertible notes are converted

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SINGAPORE, June 16, 2025 /PRNewswire/ -- Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) ("Trip.com Group" or the "Company"), a leading one-stop travel service provider for accommodation reservation, transportation ticketing, packaged tours and corporate travel management, today announced that the Company has entered into a share repurchase agreement with MakeMyTrip Limited, an investee of the Company, to sell a portion of the Class B ordinary shares that the Company holds to MakeMyTrip for cancellation. This is part of the Company's efforts to optimize its investment portfolio and enhance shareholder returns. Following completion of the proposed repurchase, the Company will remain the largest minority shareholder of MakeMyTrip and continue to support the growth of MakeMyTrip. To fund the proposed repurchase, MakeMyTrip launched an offering of convertible senior notes pursuant to Rule 144A under the U.S. Securities Act of 1933 and a concurrent underwritten public offering of ordinary shares. In connection with the offerings, the Company has agreed to a lock-up period of 180 days with customary exceptions.

About Trip.com Group Limited

Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) is a leading global one-stop travel platform, integrating a comprehensive suite of travel products and services and differentiated travel content. It is the go-to destination for many travelers in Asia, and increasingly for travelers around the world, to explore travel, get inspired, make informed and cost-effective travel bookings, enjoy hassle-free on-the-go support, and share travel experience. Founded in 1999 and listed on Nasdaq in 2003 and HKEX in 2021, the Company currently operates under a portfolio of brands, including Ctrip, Qunar, Trip.com, and Skyscanner, with the mission "to pursue the perfect trip for a better world."

For further information, please contact:

Investor Relations
Trip.com Group Limited
Tel: +86 (21) 3406-4880 X 12229
Email: iremail@trip.com 

 

View original content:https://www.prnewswire.com/news-releases/tripcom-group-announces-updates-on-its-investments-in-makemytrip-302482996.html

SOURCE Trip.com Group Limited

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is Trip.com Group (TCOM) doing with its MakeMyTrip shares?

Trip.com Group is selling a portion of its Class B ordinary shares back to MakeMyTrip for cancellation while maintaining its position as the largest minority shareholder.

How is MakeMyTrip funding the share repurchase from Trip.com Group?

MakeMyTrip is funding the repurchase through a Rule 144A convertible senior notes offering and a concurrent public offering of ordinary shares.

What is the lock-up period for Trip.com Group's remaining MakeMyTrip shares?

Trip.com Group has agreed to a 180-day lock-up period with customary exceptions.

Will Trip.com Group (TCOM) remain a shareholder in MakeMyTrip after the sale?

Yes, Trip.com Group will remain the largest minority shareholder of MakeMyTrip and continue to support its growth.

What is the purpose of Trip.com Group's share sale to MakeMyTrip?

The sale is part of Trip.com Group's strategy to optimize its investment portfolio and enhance shareholder returns.