Qunar Announces Pricing of Initial Public Offering
November 01 2013 - 9:44AM
Qunar Cayman Islands Limited ("Qunar" or the "Company") (QUNR), the
leading search-based commerce platform for the Chinese travel
industry, today announced the pricing of its initial public
offering of 11,111,000 American depositary shares ("ADSs") at a
public offering price of $15 per ADS, with a total offering
size of $166.665 million, assuming the underwriters do not exercise
their option to purchase additional ADSs. Each ADS represents three
Class B ordinary shares of Qunar. The Company's ADSs are expected
to begin trading on the NASDAQ Global Market on November 1, 2013,
under the ticker symbol "QUNR."
The Company has also granted the underwriters an over-allotment
option to purchase up to 1,666,650 ADSs within 30 days of
today.
Goldman Sachs (Asia) L.L.C., Deutsche Bank Securities Inc. and
Stifel are acting as joint book-runners of this offering. Pacific
Crest Securities LLC and China Renaissance Securities (Hong Kong)
Limited are acting as co-managers.
Qunar's registration statement relating to this offering has
been filed with, and declared effective by, the Securities and
Exchange Commission on October 31, 2013. Copies of the final
prospectus may be obtained by contacting Goldman, Sachs & Co.,
200 West Street, New York, NY 10282, Attention: Prospectus
Department, phone: +1 (212) 902-1171, facsimile: +1 212-902-9316,
e-mail: prospectus-ny@ny.email.gs.com; Deutsche Bank Securities
Inc., Attention: Prospectus Department, 60 Wall Street New York, NY
10005, phone: +1 (800) 503-4611, email: prospectus.cpdg@db.com; or
Stifel, Nicolaus & Company, Incorporated, Attn: Prospectus
Department, One Montgomery Street, 36th Floor, San Francisco, CA
94104, phone: +1 (415) 364-2720, email: syndprospectus@stifel.com.
Copies of the final prospectus may also be obtained at www.sec.gov
or at the SEC's Public Reference facilities located at 100 F
Street, N.E., Room 1580, Washington, D.C. 20549.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful, prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Qunar
Qunar Cayman Islands Limited is the leading search-based
commerce platform for the travel industry in China. Qunar's goal is
to empower Chinese travelers to define their travel experience.
Founded in May 2005 and headquartered in Beijing, Qunar is
committed to providing travelers with a one-stop travel information
source on both PC and mobile devices. The Company enables travelers
to find the best-value deals by aggregating and processing highly
fragmented travel product information from tens of thousands of
travel service providers into an organized and user-friendly
display through its proprietary technology. According to research
firm iResearch, Qunar has ranked Number 1 among all non-state-owned
online travel companies in China in terms of monthly unique
visitors since November 2010. Qunar's mobile application "Qunar
Travel" was ranked the most frequently used mobile travel
application in China by China Internet Network Information Center
in September 2012.
Leveraging its large user base and advanced technologies, the
Company provides an attractive value proposition to its customers,
which include travel service providers and display advertisers.
Qunar means "where to go" in Mandarin Chinese.
Forward-looking Statements
This press release contains "forward-looking statements." These
forward-looking statements relate to beliefs, expectations or
intentions and similar statements concerning matters that are not
of historical fact and are generally accompanied by words such as
"estimate," "project," "predict," "believe," "expect,"
"anticipate," "intend," "potential," "plan," "goal" or other words
that convey the uncertainty of future events or outcomes. These
forward-looking statements may include, but are not limited to,
expectations concerning the commencement of trading of the
Company's ADSs on the NASDAQ Global Market, the Company's ability
to complete the offering and the concurrent private placements, the
timing of the closing and the intended use of the net proceeds. The
Company has based these forward-looking statements on its current
expectations and assumptions about future events. While the
Company's management considers these expectations to be reasonable,
they are inherently subject to risks, contingencies and
uncertainties, most of which are difficult to predict and many of
which are beyond the Company's control. Investors should not place
undue reliance on these forward-looking statements.
CONTACT: For more information, please contact:
Investor/Media Contact:
Jenna Qian
Tel: 8610 5760 3609
ir@qunar.com / press@qunar.com
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