Company News - 26 November 2018

AMTD supports the successful listing of Tongcheng-Elong HK IPO

On 26 November 2018, Tongcheng-Elong Holdings Limited (“Tongcheng-Elong”, 0780.HK), a market leader in China’s online travel industry, was officially listed on the HKEX. AMTD acted as the Joint Bookrunner and Joint Lead Manager of this offering, contributed high-quality institutional orders assisted Tongcheng-Elong in completing the IPO. This transaction made another successful landmark transaction for AMTD in assisting new economy company to list on the international capital markets after completing the IPO deals under Weighted Voting Rights (WVR) structure for leading new economy companies including Xiaomi and Meituan. This is the 11st IPO issuance of AMTD in 2018.

Tongcheng-Elong Holdings Limited (0780.HK), a market leader in China’s online travel industry, was officially listed on the HKEX. AMTD acted as the Joint Bookrunner and Joint Lead Manager

Tocheng-Elong is the combined business resulting from the Tongcheng-ELong Merger, which was completed in March 2018. The Company delivers their travel product offerings, including transportation ticketing and accommodation reservation, primarily through online platforms, which comprise the Company’s Tencent-based platforms, the Company’s mobile apps and the Company’s websites, catering to travelers’ needs throughout their trips. Tongcheng-Elong is currently the sole operator of the “Rail & Flight” and “Hotel” portals in the mobile payment interface of Tencent’s Weixin as well as Mobile QQ and ranked 3rd in terms of GMV in China’s online travel market in 2017, with the highest year-over-year growth from 2015 to 2017 in the number of online transportation ticketing and accommodation reservation transactions in China’s online travel agency market. Tongcheng-Elong issued 143.8m primary shares in this offering. The initial public offering price is HK$9.8 and the company raised HK$1.41bn in total.

From left: Wu Jiazhu, Chief Strategy Officer of Tongcheng-Elong, Calvin Choi, Chairman and President of AMTD Group, Ma Heping, CEO of Tongcheng-Elong, Raymond Yung, Chief Executive Officer of L.R. Capital Group and Emily Shi, Head of Capital Markets & Advisory of AMTD Group, took photo together to celebrate the listing of Tongcheng-Elong

AMTD has always attached great importance to technological innovation and its transformative power. The Group is committed to undertaking the “super-connector” role between the fields of technology and capital and between the leading FinTech companies, internet tech companies and Asian capital. Since 2016, AMTD has acted as joint underwriter to help various new economy companies successfully complete their IPO in Hong Kong and the US, including Xiaomi, the unique and comprehensive company that covers e-commerce, hardware and internet and the first WVR stock in Hong Kong capital markets; Meituan Dianping, China's largest life service e-commerce platform and the second WVR stock in Hong Kong capital markets; Meitu, the pioneer of tech IPO in Hong Kong’s capital market in a decade; 7Road, China’s leading web game developer; X Financial, China’s leading FinTech company; Weidai, China’s largest auto-backed FinTech platform and TuanChe, China’s leading omni-channel automotive marketplace.

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