Davis Polk advised Baidu Holdings Limited as the selling shareholder in an SEC-registered offering of 36,000,000 American depositary shares (“ADSs”), each representing 0.125 ordinary shares of Ctrip.com International, Ltd. (Nasdaq: CTRP)
for a total net proceeds of approximately $988 million.
Baidu is the leading Chinese language internet search provider and aims to make a complex world simpler through technology. Ctrip.com International, Ltd. is a leading provider of online travel and related services, including accommodation reservation, transportation ticketing, packaged tours and in-destination services, corporate travel management and other travel-related services.
The Davis Polk corporate team included partners Howard Zhang and Li He, counsel Ran Li and registered foreign lawyer Kevin Zhang. Members of the Davis Polk team are based in the Beijing and Hong Kong offices.