MakeMyTrip is an Indian online travel company that has raised over $2.6 Billion to buy shares back from Trip.com Group, a long-term investor in China. MakeMyTrip intends to repurchase a portion of its shares from Trip.com Group. The online travel agency announced this in a Monday stock exchange filing.
MakeMyTrip stated in a Monday stock exchange filing that “the interests of Trip.com, and its affiliates, may differ from or be at odds with those of our other shareholders.” “Their influence could result in the delaying or preventing a change in management or control of our business or other significant actions that affect our company, even though such transactions or actions are beneficial to our other investors.”
MakeMyTrip is raising $1.25 billion in convertible bonds and 14 million new shares.
MakeMyTrip will now have a stake of less than 20%.
