PRNewswire-Asia -- Ctrip.com International, Ltd., a leading travel service provider for hotel accommodations, airline tickets and packaged tours in China, announced today that it has entered into a definitive purchase agreement (the “Agreement”) to acquire additional 7,514,503 ordinary shares of Home Inns & Hotels Management Inc. (“Home Inns”) through a private placement of $50 million in equity. The purchase price per ordinary share is set at $6.6538 or $13.3076 per American Depository Share (“ADS"; each ADS equals two ordinary shares), calculated as the average of the closing prices for Home Inns’ American depository shares on Nasdaq for each trading day within the 30 calendar days preceding the Agreement date, i.e., within the 30 calendar days from and including April 7, 2009 up to and including May 6, 2009.
