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Qunar Cayman Islands Ltd Announces Pricing Of Initial Public Offering
Qunar Cayman Islands Limited (Qunar or the Company) announced that the pricing of its initial public offering of 11,111,000 American depositary shares (ADSs) at a public offering price of $15 per ADS, with a total offering size of $166.665 million, assuming the underwriters do not exercise their option to purchase additional ADSs. Each ADS represents three Class B ordinary shares of Qunar. The Company's ADSs are expected to begin trading on the NASDAQ Global Market on November 1, 2013, under the ticker symbol "QUNR." The Company has also granted the underwriters an over-allotment option to purchase up to 1,666,650 ADSs within 30 days of November 1, 2013. Goldman Sachs (Asia) L.L.C., Deutsche Bank Securities Inc. and Stifel are acting as joint book-runners of this offering. Pacific Crest Securities LLC and China Renaissance Securities (Hong Kong) Limited are acting as co-managers.
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