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Qunar up 5.8% after downsizing, pricing offering

Jun. 05, 2015 9:23 AM ETQunar Cayman Islands Limited (QUNR) StockBy: Eric Jhonsa, SA News Editor2 Comments
  • Qunar (NASDAQ:QUNR) is selling 6.53M ADS' through its public offering, less than the 8M announced Monday evening. The offering has been priced at $47.50 ($0.25 below Thursday's close), and comes with a 316K-share overallotment option. Not counting the overallotment option, it stands to yield gross proceeds of $310M.
  • Qunar has risen to $50.50 premarket. Shares are up 10% since the company posted a Q1 beat, guided for strong Q2 sales and major spending growth, disclosed the receipt and rejection of a Ctrip buyout offer, announced the end of its Zhixin partnership with Baidu and the start of a Baidu mapping deal, and announced the stock offering and a $500M convertible debt investment.

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QUNR--
Qunar Cayman Islands Limited
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