Ctrip.com International Ltd., which sells travel in China, said on Tuesday that it would sell 5.7 million American depositary shares, which will represent one-quarter of an ordinary share in the company.

The company said underwriters would be able to buy another 855,000 depositary shares.

Ctrip said it will use the money to buy or invest in "complementary businesses and assets," and for general corporate purposes.

The Shanghai-based company currently has 136.2 million American depositary shares outstanding. On Tuesday, those shares fell $1.14, or 2.9 percent, to close at $37.93. They fell another $1.03, or 2.7 percent, to $36.90 after the announcement.