Ctrip : Baidu Holdings Prices Secondary Offering Of 31.30 Mln ADSs At $28/ADS

(RTTNews) - Ctrip.com International Ltd. (CTRP) said that the secondary offering of an aggregate of 31.30 million American depositary shares by its shareholder Baidu Holdings Limited was priced at US$28.00 per ADS.

The underwriters will have a 30-day option to purchase up to an aggregate of 4.70 million additional ADSs from the selling shareholder solely for the purpose of covering over-allotment.

The company noted that it will not issue or sell any ADSs in this offering and will not receive any proceeds from the sale of the ADSs by the selling shareholder.

The company and the selling shareholder have agreed to be subject to lock-up restrictions for 90 days and 180 days, respectively, after this offering.