Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Tiger Global Management Reveals New Passive Stake in Recently Public Tuniu Corp (TOUR)

In a new filing with the U.S. Securities and Exchange Commission, Tiger Global Management LLC, led by Chase Coleman and Feroz Dewan, has revealed a new passive stake in Tuniu Corp (NASDAQ:TOUR). The fund owns a 10.1% stake, which contains 3.60 million Class A ordinary shares, according to the filing.

TIGER GLOBAL MANAGEMENT LLC

Tuniu Corp (NASDAQ:TOUR) is an online leisure travel company in China. It offers a large selection of packaged tours, including organized and self-guided tours, as well as travel-related services for leisure travelers through its website tuniu.com and mobile platform. The company’s market cap is around $512.9 million.

Tuniu Corp (NASDAQ:TOUR) recently conducted its Initial Public Offering, selling a total of 8.0 million American Depositary Shares (ADSs), each representing three Class A ordinary shares of the company, at $9.00 per ADS for a total offering size of about $72.0 million, assuming the underwriters do not exercise their option to purchase additional ADSs. The offering includes 7.38 million shares offered by the company and 620,000 by the selling shareholders. The company granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an additional 1.20 million ADSs at the initial public offering price to cover any over-allotments, according to a statement. Following the IPO, the stock of the company advanced by almost 20%.

Tiger Global was founded by Chase Coleman in 2001 with $25 million seed money from legendary investor Julian Robertson. Chase Coleman runs Tiger Global’s equity funds together with Feroz Dewan who graduated from Princeton University. The fund has around $6-8 Billion under management. It returned 71% after fees in 2007.

Recently, Tiger Global Management revealed adding Zillow Inc (NASDAQ:Z) to its equity portfolio, holding a 9.5% passive stake, which contains around 3.14 million shares. In the beginning of last month, the fund disclosed raising its passive stake in 58.com Inc (ADR) (NYSE:WUBA) to 2.52 million class A ordinary shares from 300,000 held previously.

Disclosure: none

Recommended Reading:

Tiger Global Ups Its Stake in dELiA*s, Inc. (DLIA)

Tiger Global Management Cuts Its Exposure To TAL Education Group (XRS)

Tiger Global Management’s Top Q4 Picks and Pans: Priceline (PCLN) and Twenty-First Century Fox (FOXA) Among the Favorites

Loading Comments...