- After pricing its 8M-share IPO at $9, Tuniu (TOUR) opened at $9 but has since risen 12% to $10.08.
- The Chinese online packaged tour seller has a market cap of $474M, or 1.5x 2013 sales. It sold 7.38M new shares, and 620K on behalf of existing holders. Tuniu had 2013 revenue of $324.2M (+75% Y/Y), and a net loss of $13.2M.
- Chinese online travel peers Ctrip (CTRP +4.9%), Qunar (QUNR +1.8%), and eLong (LONG +1.5%) are all trading higher.