Online Tour Service Tuniu Files for IPO on NASDAQ to Raise up to $120 Million

Chinese travel service Tuniu has filed with the US Securities and Exchange Commission for IPO under the ticker symbol of “TOUR” to raise up to $120 million funds.

Tuniu offers travel services including organized tours and self-guided tours, and combined air ticket and hotel booking. The company’s business overlaps with that of the other US-listed Chinese online travel services like Ctrip (NASDAQ:CTRP) and eLong (NASDAQ:LONG), but Tuniu claimed that it distinguished itself from other services with its special focus on leisure travelers.

Before the IPO, the company’s board members and senior executives hold an 86.4% stake in the firm on aggregate, of which 10.9% is controlled by Yu Dunde, founder and CEO of Tuniu.

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