Ebookers.com, the online travel firm, is braving turbulent market conditions for hi-tech stocks by joining the London stock exchange today.

The London-based firm is already listed on Frankfurt's Neuer Markt and America's Nasdaq.

"We are better known in the UK than in any other country in the world so we would rather list in our home country," said chief executive Dinesh Dhamija.

Ebookers, which was worth $730m at the height of the dot.com boom in March last year, has since seen its value drop to $63m. Its shares begin trading in London at about 100p.

It had been seeking a London placing to give it access to future funding from British-based investors and to raise its profile.

"The move brings us closer to our investor base in our largest market," the company said. "It is expected to allow us access to institutional funds that could not previously buy Ebookers.com stock."

The company will retain its listings on Nasdaq and the Neuer Markt and none of the directors has any plans to sell shares.

Ebookers, which raised $45m from European institutional investors last July, said it had enough funds in the bank to take it to cash flow-positive status at the end of this year or beginning of 2002. It expected to be profitable shortly after that, said Mr Dhamija.