Tuniu plans fresh offering to raise US$100 million
OTA Tuniu submitted an F-1 registration statement to the US Securities Commision (SEC) stating their intention to make a fresh offering to raise US$100 million.
Major Chinese OTA Tuniu submitted an F-1 registration statement to the US Securities Commision (SEC) before trading began on December 2, stating their intention to make a fresh offering to raise US$100 million. The share offering is underwritten by Morgan Stanley, Credit Suisse and China Renaissance.
The share price for this offering is not yet set, but going by the latest closing price of US$12.71, Tuniu must release 7.86 million American Depository Shares (ADS), equivalent to 23.6 million regular shares, to raise US$100 million.
Tuniu’s ADS price closed at US$12.71 this morning, a slight gain of 0.24%. It has a regular transactional volume of 415,000 shares and the share price has been trading within the range of US$8.52-US$24.99 for the last 52 weeks with a market value of US$450 million.
Tuniu raised US$100 million with a US$9 issue price at the Nasdaq IPO on May 9 this year, closing at US$10.07 on the first day of trading.
Ctrip and Qihoo 360 purchased US$15 million and US$5 million worth of Tuniu shares respectively at the issue price in the IPO. (Translation by David)