Tueniu.net receives $148 million in investment

On December 15, China Online Leisure Touring Company Tueniu Tourism Network (NASDAQ:TOUR, “Tueniu”) was announced in Nanjing under the banner of Hony Capital, Jingdong Mall (NASDAQ:JD, “JD”) and Ctrip (NASDAQ:CTRP). The subsidiary “Ctrip Investment” and the CEO of Tuniu signed an equity subscription agreement with the chief operating officer. According to the agreement, Tuen Niu will sell the newly issued shares of US$148 million to these investors.

Pursuant to the Equity Subscription Agreement, Hony Capital, JD.com, Ctrip Investment, Tuniu Chairman and Chief Executive Officer Yu Dunde and Tuniu Chief Operating Officer Yan Haifeng, agreed to be US$50 million, US$50 million, US$15 million and US$16.5 million respectively. And 16.5 million US dollars to buy Road Class A common stock. The subscription price is $4.0203 per share, or $12.061 per ADS. The subscription price is the average daily closing price of the American ADSs for the 10 trading days prior to the signing of the agreement, which is adjusted by the ratio of ADRs to common stocks. This subscription price represents a 3.19% premium to the daily closing price of U.S. ADRs over the five trading days prior to the signing of the agreement. The issuance will be based solely on the S provision under the United States Securities Act of 1933 and its amendments. Each investor agreed not to sell and transfer the shares subscribed for in this offering within six months after the agreement was signed.

“We welcome Hony Capital and JD to be our new shareholders and look forward to the next step in the strategic cooperation with Jingdong. This time, Ctrip also increased its shareholding, and we will cooperate on more resources.” Bull Chief Executive Yu Dunde said. Tun Hai Chief Operating Officer Yan Haifeng said: “We will continue to enhance our service and brand, strengthen our penetration in the second and third tier markets, strengthen our investment in wireless, R&D and travel products, continuously improve our customer experience, further expand our market share, and strengthen market leadership. Status.” Hony Capital is a leading PE investment institution in China with a focus on the Chinese economy and the Chinese market. Currently, the management funds exceed RMB 46 billion. In addition, Tuniu announced the cancellation of the previously submitted plan for public issuance of the American Depositary Receipts and withdrew the relevant F-1 documents submitted by the company to the United States Securities and Exchange Commission on December 2, 2014.

It is understood that as early as December 10, Tueniu Tourism Network and tourism service provider Ctrip.com has signed a strategic cooperation agreement, the two sides will further expand the sharing of tourism resources, in-depth cooperation. “We are very pleased to work with Ctrip to deepen our cooperation,” said Yan Haifeng, founder and chief operating officer of Tueniu Tourism. “Since May of this year, Ctrip had purchased Tueniu Stocks, the two sides have developed well in the cooperation of hotels and other resources. We plan Through expanding the strategic cooperation between the two parties, we have deepened cooperation in other tourist resources including air tickets and car rental services, enabling us to provide a wider range of services to leisure travel users in China.” In May 2014, Ctrip subscribed for US$15 million. Tueniu Class A ordinary shares, with more than 3% of the way cattle cattle outstanding shares.