Trip.com Strengthens Ties with MakeMyTrip Through Strategic Share Repurchase Agreement

Strategic Share Repurchase: A Move Towards Strengthening Ties Between Trip.com and MakeMyTrip

In a significant development within the travel industry, Trip.com Group Limited announces a share repurchase agreement with MakeMyTrip Limited, its investee company. This strategic move, effective June 16, 2025, allows Trip.com to sell a portion of its Class B ordinary shares to MakeMyTrip for cancellation. The decision is part of Trip.com’s broader strategy to optimize its investment portfolio and enhance shareholder returns, signaling a commitment to strengthening its relationship with MakeMyTrip while also reinforcing its position as the largest minority shareholder. This transaction not only reflects confidence in MakeMyTrip's growth potential but also aligns with Trip.com's ongoing efforts to maintain its influence in the competitive travel market.

As part of this agreement, MakeMyTrip initiates an offering of convertible senior notes under Rule 144A of the U.S. Securities Act of 1933, coupled with a public offering of ordinary shares. This dual offering aims to facilitate the buyback while ensuring sufficient capital flow for MakeMyTrip. The strategic timing and structure of these offerings highlight the company’s proactive approach to maintaining liquidity and supporting its operational needs. Additionally, Trip.com Group has committed to a 180-day lock-up period associated with these offerings, underscoring a long-term investment perspective in its collaboration with MakeMyTrip.

The collaboration between Trip.com and MakeMyTrip exemplifies the growing interconnectedness within the travel sector, particularly as both companies aim to adapt to evolving consumer preferences and market dynamics. Founded in 1999, Trip.com Group operates an extensive portfolio of brands, including Ctrip, Qunar, and Skyscanner, positioning itself as a comprehensive travel platform focused on providing a seamless experience for travelers. By fostering a supportive investment environment, Trip.com not only enhances its shareholder value but also reinforces its commitment to the growth and sustainability of MakeMyTrip, a favored choice among travelers in Asia and beyond.

In related news, stakeholders interested in further details about this transaction can reach out to Trip.com Group's Investor Relations team. The ongoing collaboration between these two companies indicates a robust future for their joint operations, as they continue to navigate the complexities of the global travel landscape together. This strategic alignment is expected to further consolidate their market presence while driving innovation and customer satisfaction in the travel sector.