TOM Online is a mobile Internet company in China, operating the popular Chinese-language Internet portal (www.tom.com) and offering a variety of online and mobile services, including wireless internet and online advertising. It is a subsidiary of the TOM Group, controlled by Li Ka Shing.
The company, then named TOM.com, was first listed on the Growth Enterprise Market on March 1, 2000,[1] and on the NASDAQ on March 10, 2004. It set a record in Hong Kong when it listed: shares closed at 3.35 times its offer price on the first day of trade.[2]
Tom Group, which owned 66 percent of the company, announced in March 2007 that it would pay HK$1.57 billion to buy out minority shareholders in the company, valuing each share at HK$1.52. A vote on the deal was scheduled for June 8, but was postponed to August 10.[3] Morgan Stanley said in a report in March that the fair value