Tencent-backed travel firm Tongcheng-Elong cuts HK IPO size as market tanks

Tencent-backed travel firm Tongcheng-Elong cuts HK IPO size as market tanks

Photo by William Rouse on Unsplash

Tencent Holdings-backed online Chinese travel firm Tongcheng-Elong launched a far smaller than expected Hong Kong IPO of up to $233 million on Tuesday, amid a weak stock market and a string of poor performances from recent listings in the city.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter