Seeking Alpha

Qunar IPO more than doubles, Baidu's stake valued at $2.14B

  • After pricing its 11.1M-share IPO at $15 (above an elevated price range of $12-$14), Qunar (QUNR) opened at $28.35 and is now at $32.30, up 115.3%. That gives the Chinese online travel site a valuation of $3.64B, which in turn means Baidu's (BIDU) 58.8% post-IPO stake is worth $2.14B.
  • For reference, Qunar had 2012 sales of just $81.7M, and 1H13 sales of $58.5M (+75% Y/Y).
  • Rivals Ctrip (CTRP +1.2%) and eLong (LONG +1.7%) are trading higher.
  • F-1, IPO preview
Comments (1)
  • Nocturnian
    , contributor
    Comments (47) | Send Message
     
    What will happen to Qunar stock if Alibaba buys CTRP?
    1 Nov 2013, 12:19 PM Reply Like
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