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China's plans $1bn Hong Kong secondary listing

Move follows disappointing stock debuts for mainland companies in territory

HONG KONG -- Group, a Nasdaq-listed Chinese online travel company, could launch a secondary listing in Hong Kong valued at more than $1 billion as early as next week, according to two informed sources. 

The company was given the go-ahead on Thursday by the listing committee of Hong Kong Exchanges and Clearing, the stock market operator. The company is preparing for preliminary discussions with potential investors before throwing open the offering for subscriptions, the sources familiar with the deal told Nikkei Asia. 

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