4 April 2014
Ctrip.com International, Ltd. (NASDAQ: CTRP) said that the board of the company has approved a new share repurchase program whereby Ctrip may purchase its own American depositary shares with an aggregate value of up to USD600m.
The company expects to fund the repurchase out of its existing cash balance, including cash generated from operations and cash received from the convertible bonds issued in 2012 and 2013.
Ctrip.com International, Ltd. is a leading travel service provider of hotel accommodations, ticketing services, packaged tours, and corporate travel management in China. Its website is at ctrip.com