China Based Travel Site Plans US IPOs In 2012

This article was last updated on April 16, 2022

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The Chinese government attempts to impress its control over the IT sector of the country. In this regards, two high-level official visits have taken place with the Chinese Internet search engine company Baidu Inc. The meetings took place with the company’s Chief Executive Robin Li and two senior Chinese officials.

The Amazon of China also holds majority shares in the china based travel site, Qunar.com. Baidu invested a total sum of $ 306 million in Qunar and became their major share holder. Qunar provides a search engine for airline, train, hotel and tour bookings. Qunar has said that the company will still be operating as an individual travel agency.

According to reports published by MarketWatch, Qunar is planning to list its shares in the U.S in 2012.

However, no official statement from Qunar and Baidu could be taken as both refused to comment on the story.

The Initial Public Offering is being initiated in the US by Qunar amid various Chinese Internet companies trying to list shares in the U.S in the preceding year.

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