Ctrip-Backed Tongcheng-Elong's Co-Chair Unloads 2.5% Stake for USD5 Million
Liao Shumin
DATE:  Sep 03 2019
/ SOURCE:  yicai
Ctrip-Backed Tongcheng-Elong's Co-Chair Unloads 2.5% Stake for USD5 Million Ctrip-Backed Tongcheng-Elong's Co-Chair Unloads 2.5% Stake for USD5 Million

(Yicai Global) Sept. 3 -- The co-chairman of Tongcheng-Elong Holdings, a Chinese online travel agency backed by Tencent and Ctrip, has sold a stake equal to 2.5 percent of the firm's outstanding shares for HKD39.36 million (USD5 million).

Wu Zhixiang sold 3.2 million Tongcheng-Elong stocks via block trade at a price of HKD12.3 (USD1.60) per share, the Suzhou-based company said in a statement today. The equity price [HKG:0780] was HKD12.50 this morning, declining 1.3 percent.

Wu sold the shares because of his personal financial needs and he has not intention to further reduce his shareholding in the near future, the statement added.

The lot was nearly 5.5 percent of Wu's holdings and he still has 53.5 million Tongcheng-Elong shares. 

Editor: Emmi Laine 

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Keywords:   Tongcheng-Elong