--FILE--Vue d'un immeuble de bureaux de l'agent de voyages en ligne de Chine continentale Tongcheng-eLong à Beijing, Chine, 7 octobre 2018. Chine continentale virt
--FILE--View of an office building of Chinese mainland online travel agent Tongcheng-eLong in Beijing, China, 7 October 2018. Chinese mainland online travel agent Tongcheng-eLong is expected to list on Hong Kong stock market in December to raise $1 billion (694 million yuan) via its initial public offerings after a hearing at Hong Kong Exchanges and Clearing Ltd on Oct 25, news portal Sina said on Tuesday (23 October 2018). CMB International Capital Corporation, JPMorgan and Morgan Stanley will act as the IPO's lead underwriters. The company was formed by travel service companies Tong Cheng Network and E-dragon Holdings Ltd, or eLong, in December, and its major shareholders include Tencent with 24.92 percent and Ctrip with 22.88 percent of the company's shares. In 2017, the merged entity recorded a net profit of 194 million yuan. Tong Cheng Network and eLong have differentiated advantages on transport tickets predetermining and hotel booking, respectively, before the two merge.
