Qunar eyes $800m via ADR, CB sales

Courted unsuccessfully by C-trip.com, the Chinese online travel site has launched a two-pronged fundraising programme with a follow-on share offering and convertible bond.

Qunar eyes $800m via ADR, CB sales

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.

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