Qunar Cayman Islands Prices Offering Of 6.53 Mln ADSs At $47.50/ADS

(RTTNews) - Qunar Cayman Islands Limited (QUNR), China's leading mobile and online travel platform, announced the pricing of its public offering of 6.53 million American Depositary Shares at a price of US$47.50 per ADS.

Each ADS represents three Class B ordinary shares of the Company. The Company has granted to the underwriters a 30-day option to purchase up to an additional 315,790 ADSs.

The company noted that it intends to use a majority of the net proceeds for general corporate purposes, including the acquisition of new users. The company also may use a portion of the net proceeds to acquire complementary businesses, products, services or technologies. However, the company has not yet entered into any agreements or commitments for any specific acquisitions at this time.