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China's set to raise $1.09bn in Hong Kong share sale

Demand set to encourage other companies eyeing 'homecoming' listing is one of the Chinese companies aiming for a "homecoming listing" in Asia. (Photo by Ken Kobayashi)

HONG KONG -- Group, a Nasdaq-listed Chinese online travel company, is set to raise 8.47 billion Hong Kong dollars ($1.09 billion) from a share offering in the city, according to two people familiar with the transaction.

The company, which offered 31.6 million shares, or a 5% stake, is likely to price its second listing at HK$268 a share, which equates to a 2.1% discount to the stock's closing price on Monday on the Nasdaq exchange in the U.S.

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