Home > Online > Chinese travel firm Tongcheng-Elong gains 26% on debut

Chinese travel firm Tongcheng-Elong gains 26% on debut

11/27/2018| 9:03:36 AM| 中文

Tongcheng-Elong sold 165.4 million shares in the offering.

Tongcheng-Elong, a Tencent-backed online Chinese travel firm, gained 26% on its Hong Kong trading debut Monday, following a HK$1.62-billion (USD 207 million) offering. 

The company, which is also backed by travel website Ctrip.com International, saw its stock trading at HK$10.78 during the opening bell at the Hong Kong Stock Exchange and ended at HK$12.40. Tongcheng-Elong sold 165.4 million shares in the offering. 

The company had earlier been seeking to raise up to USD 1 billion, but weak markets and a slide in Ctrip’s share price forced it to slash the size of the IPO.

Read Original Article

TAGS: Tongcheng-eLong | IPO | Tencent | Ctrip
©2017 广州力矩资讯科技有限公司 粤ICP备06070077号-2
Tell us more about yourself!