21 February 2020

Qunar shares jump 89% on NASDAQ trading debut, paper says

Shares in Qunar, an online travel website 65 percent owned by search giant Baidu Inc., soared 89.33 percent to close at US$28.40 on their NASDAQ trading debut on Friday, the Oriental Morning Post reported Sunday. Based on the closing price, the 21.94 million shares, or 7.23 percent stake, owned by founder and chief executive Zhuang Chen were worth more than US$200 million, the report said. Senior management members and directors of Qunar own a combined 23.37 percent interest, or 71.46 million shares, in the company, it added.

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