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HNA boosts its Tuniu stake to 26.61%

10/19/2016| 11:41:16 AM| ChinaTravelNews 中文

HNA Group boosted its stake in Tuniu to 26.61% in three transactions via its subsidiary HK Praise Tourism in the past five months, according to company filings on SEC.

From August 29 to September 29 in 2016, HNA Group’s subsidiary HK Praise Tourism purchased 4,373,358 shares of Nasdaq-listed Tuniu, equivalent to 1.15% holding, at prices ranging from USD 8.77 to USD 10.66 per share, according to a company filing issued by the U.S. Securities and Exchange Commission (SEC).

Prior to the latest deal, HK Praise Tourism increased its stake in Tuniu twice between June and July 2016. The Hong Kong-based company’s parent HNA Group has boosted its stake in Tuniu to 26.6% in the past five months. 

HNA’s tourism unit acquired 24.1% shares of Tuniu at USD 5.5 per share for a total of USD 500 million. The deal completed at the end of 2015 had made HNA the largest stakeholder of Tuniu. (Translated by Jerry)

TAGS: Tuniu | HNA Group | SEC | acquisitions
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