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22-06-2018, 06:23 PM
Ctrip-backed travel agent Tongcheng-eLong to raise up to US$1.5 b in Hong Kong stock sale
Yingzhi Yang & Peggy Shito
PUBLISHED : Friday, 22 June, 2018, 10:24am
UPDATED : Friday, 22 June, 2018, 10:24am
Tongcheng-eLong Holdings, the online travel agent cobbled together last December through a merger, is planning to raise between US$1 billion and US$1.5 billion in a Hong Kong initial public offering, according to people familiar with the plan.
The Suzhou-based company, formed through the merger of Tongcheng Network with E-dragon Holdings Limited (eLong), helps budget travellers book accommodation, flights and train tickets, serving as many as 300 million customers in 2016, according to its website.
The fundraising would trump the US$85 million stock offer in 2003 by China’s largest online tour operator Ctrip.com, and create another online tour giant, in an industry that’s growing and innovating in leaps and bounds through the combination of smartphone-enabled internet technology with the world’s largest population of domestic and overseas travellers.
More details in http://www.scmp.com/business/companies/a...g#comments
Yingzhi Yang & Peggy Shito
PUBLISHED : Friday, 22 June, 2018, 10:24am
UPDATED : Friday, 22 June, 2018, 10:24am
Tongcheng-eLong Holdings, the online travel agent cobbled together last December through a merger, is planning to raise between US$1 billion and US$1.5 billion in a Hong Kong initial public offering, according to people familiar with the plan.
The Suzhou-based company, formed through the merger of Tongcheng Network with E-dragon Holdings Limited (eLong), helps budget travellers book accommodation, flights and train tickets, serving as many as 300 million customers in 2016, according to its website.
The fundraising would trump the US$85 million stock offer in 2003 by China’s largest online tour operator Ctrip.com, and create another online tour giant, in an industry that’s growing and innovating in leaps and bounds through the combination of smartphone-enabled internet technology with the world’s largest population of domestic and overseas travellers.
More details in http://www.scmp.com/business/companies/a...g#comments
Specuvestor: Asset - Business - Structure.