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Tongcheng-ELong (同程艺龙) Potential Lock-Up Expiry Trade - US$1.3bn to Be Sold by Pre-IPO Investors

Tongcheng-ELong (同程艺龙) Post-IPO Trading Update - Stronger than Expected Listing Performance

Tongcheng-ELong (同程艺龙) IPO Review - Smaller Player with Lower Profitability Margins

APAC IPOs & Placements

Zhen Zhou, Toh

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Tongcheng Travel Holdings  / Equity Capital Markets

<p>Shareholders of <a href="https://www.smartkarma.com/entities/tongcheng-elong-holdings-ltd" target="_blank" data-smartkarma-citation="entities:27363:1">Tongcheng-Elong Holdings Ltd (780 HK)</a> are looking to raise US$85m through a selldown of 43.5m shares.</p><p>The deal scores well on our framework owing to its inexpensive valuation relative to peers and strong earnings and price momentum since listing. The small deal size could mean that there were only four willing sellers out of all the potential sellers whom we have identified earlier. It implies that there are only about US$67m worth of shares left from the selling shareholders, which could be easily digested by the market.</p>

Shareholders of Tongcheng-Elong Holdings Ltd (780 HK) are looking to raise US$85m through a selldown of 43.5m shares.The deal scores well on our framework owing to its inexpensive valuation relative to peers and strong earnings and price momentum since listing. The small deal size could mean that there were only four willing sellers out of all the potential sellers whom we have identified earlier. It implies that there are only about US$67m worth of shares left from the selling shareholders, which could be easily digested by the market.

Tongcheng Elong (同程艺龙) の配置 - 大したことはありません