CTG International's Spinoff Suggests Focus on Core Operations -- Market Talk

Dow Jones05-21 10:55

0255 GMT - China Travel International Investment Hong Kong's move to list its non-tourist-attraction business on the Hong Kong stock exchange signals a sharper focus on its core operations, Citi analysts say in a note. The Chinese travel-services company aims to spin off its non-tourist-attraction operations without issuing new shares. The analysts view the move as favorable, as it could help narrow the holding-company discount on China Travel's shares. They also view the company's five-year development plan for its tangible financial targets as positive. Still, the listing raises the risk of reduced trading liquidity, Citi analysts warn. Citi opens a 30-day upside catalyst watch on China Travel's shares while retaining its buy rating and HK$1.49 target price. Shares are 11% higher at HK$1.34.(megan.cheah@wsj.com)

(END) Dow Jones Newswires

May 20, 2026 22:55 ET (02:55 GMT)

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