Chinese travel site Qunar is bookbuilding for a follow-on share sale that could raise around $300 million for the company.
The ADR-share sale, the company’s first since its initial public offering on Nasdaq in 2013, will consist of 8 million primary American Depository Receipts representing 24 million ordinary shares, according to a company statement. There is also a 15% greenshoe option of 1.2 million ADRs.
No price range has been set yet but the deal will be sold at a discount to the June 1 closing price of $46.01. Goldman Sachs is lead bookrunner on the deal, which will...
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