Chinese online travel firm Tongcheng-Elong will reportedly begin trading on the Hong Kong Stock Exchange on November 26, raising approximately HK$ 1.25 billion ($160 million), our sister site is reporting.

The 143.8 million shares are priced at HK$9.8, the lower end of the range after being set at between HK$9.75 and HK$12.65 each. CMB International Capital, JPMorgan Chase, and Morgan Stanley are the lead underwriters of the IPO. The company initially aimed at a fundraising target of between $800 million and $1 billion, but later adjusted its goals.

Tongcheng-Elong filed for a Hong Kong IPO on June 21. According to its prospectus, the company’s biggest shareholders are Chinese tech giant Tencent and online travel agent Ctrip, holding 25% and 23% of its shares respectively.

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Chris Udemans

Christopher Udemans is a Shanghai-based technology reporter. He covers Chinese artificial intelligence, mobility, and cybersecurity. You can contact him at chrisudemans [at] technode [dot] com.