MakeMyTrip completes share repurchase to cut China-based Trip.com's stake
MakeMyTrip completes share repurchase to cut China-based Trip.com's stake
NEW DELHI: (Jul 4) Nasdaq-listed MakeMyTrip has repurchased over 3.4 crore Class B shares from China-based Trip.com, significantly reducing Trip.com’s voting power in the company from 45.34% to 16.90%.
In a filing to the U.S. stock exchange, the Gurugram-based travel platform said the buyback led to the resignation of three Trip.com-nominated directors, bringing down their representation on the board from five to two members, in accordance with the terms governing the Class B shares.
"On July 2, 2025, MakeMyTrip completed the repurchase of 34,372,221 Class B shares from Trip.com Group Limited, as per the amended and restated share repurchase agreement dated June 23, 2025. All repurchased shares have been cancelled," the company stated in its filing.
