MakeMyTrip to raise over USD 2.5 billion to cut Chinese firm Trip.com’s stake
New Delhi: Travel booking major MakeMyTrip has announced a fundraise of over USD 2.5 billion through the sale of shares and convertible bonds with the objective of significantly reducing China-based Trip.com Group’s stake in the company, according to filings with NASDAQ.
The Gurugram-headquartered NASDAQ-listed firm plans to use the net proceeds from the offering, as well as from the Concurrent Notes Offering, to repurchase a portion of its Class B shares previously acquired by Trip.com.
