17 February 2019

Qunar travel service files for US$125 mln IPO, Bloomberg says

Qunar Cayman Islands Ltd., an online travel service provider controlled by mainland search engine firm Baidu Inc., aims to raise as much as US$125 million in the biggest US initial public offering by a Chinese company in two years, Bloomberg reported Tuesday. Qunar plans to sell American depositary shares and to list on the New York Stock Exchange, according to its filing to the US Securities and Exchange Commission, the report said. Baidu paid US$306 million in 2011 for a majority stake in Qunar to tap the country’s growing travel market, it said. 

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