Tencent-backed travel firm rises on HK debut

Online travel agency Tongcheng-Elong Holdings Ltd made a strong public debut on the Hong Kong Stock Exchange on Monday, fueled by investors interested in China's booming online travel business market.

The Suzhou-based agency became the first Chinese mainland online travel agency to be listed in Hong Kong, and raised HK$ 1.25 billion ($0.16 billion) through its initial public offering, with an issuance price of HK$ 9.80.

By the end of Monday's trading, shares had surged to HK$ 12.38, up 26.33 percent. Its total market value stood at HK$ 25.44 billion.