Friday's IPO for Tuniu Corporation (Nasdaq: TOUR) opened for trading earlier at $9 after pricing 8,000,000 American Depositary Shares ("ADSs"), each representing three Class A ordinary shares of the Company, at US$9.00 per ADS. Shares have since moved higher to $10.10, up 12.2%.
Morgan Stanley & Co. International plc, Credit Suisse Securities (USA) LLC and China Renaissance Securities (Hong Kong) Limited are acting as joint bookrunners, and Oppenheimer & Co. Inc. is acting as co-manager, for the offering.
Tuniu (Nasdaq: TOUR) is a leading online leisure travel company in China that offers a large selection of packaged tours, including organized and self-guided tours, as well as travel-related services for leisure travelers through its website tuniu.com and mobile platform. Tuniu has over 200,000 stock keeping units (SKUs) of packaged tours, covering over 70 countries worldwide and all the popular tourist attractions in China. Tuniu provides one-stop leisure travel solutions and a compelling customer experience through its online platform and offline service network, including over 400 tour advisors, a 24/7 call center and 15 regional service centers. Since its inception, Tuniu has sold over three million packaged tours.
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