| Videos | Channels | Search |
Trade idea: Buy travel search engine Qunar
Beijing-based trader Fredrik Oqvist, Founder of ChinaRAI, is looking to buy Qunar, the Chinese online travel service provider. The firm, which is a unit of Chinese search engine giant Baidu, is launching an IPO on Friday and hopes to to raise as much as USD 125 million.
It would be the biggest US initial public offering by a Chinese company in two years.
Fredrik says that Qunar is particularly interesting because it targets two growing trends; technology and travel.
The IPO range is set to be between 9.50-11.50 and as a result he plans to go in at market, put a stop at the IPO price and his target is 13.80.
Qunar, which runs China’s most popular mobile travel app, reported sales of USD 58.5 million for the six months ended June 30 and a net loss of USD 2.8 million during the period.
A second Chinese firm, 58.com, is also planning to go public this week on the NYSE this week.
Disclaimer
Saxo Bank Group provides an execution-only service. All information provided on Tradingfloor.com is solely for general information. Tradingfloor.com does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. Saxo Bank Group will not be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available as part of the Tradingfloor.com or as a result of the use of the Tradingfloor.com.
Please read our notification on
Non-independent investment research disclaimer
01:09 minutes
Tags: baidu, china rai, chinese company, chinese economy, chinese firm qunar, chinese tech firm, economy, fredrik oqvist, initial public offering, investing, investment, ipo, mobile travel app, nasdaq, nyse, online search engine, qunar, saxo bank, saxo tv, search engine, trade idea, trader, trading, trading risks, tradingfloor.com, travel app, travel company, travel industry, usd, video