Qunar shares nearly double on NASDAQ debut
Qunar, a Chinese-travel website majority-owned by internet search giant Baidu, saw its stock nearly double on the first day of trading on NASDAQ on Friday. It betters the 42% gain posted by VC-backed Chinese classifieds website 58.com a day earlier.
After peaking at $33.99 mid-morning - valuing the company at about $11.8 billion - Qunar's stock closed at $28.40 for an 89% first-day gain. It had already increased the pricing range for the IPO from...
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