Qunar.com, a mainland online travel information provider, plans to list in the United States next year to raise funds for future acquisitions and raise its profile among the mainland's growing numbers of leisure travellers.
Chief executive Zhuang Chenchao said preparations for the initial public offering were going smoothly, but the firm was not in a hurry to begin the listing process after several mainland stocks plunged amid market volatility after their Nasdaq debuts this year.
'The primary aim for us to seek a listing is to boost our brand exposure and get more people to know about us. We do not care too much about how much money we can raise,' said Zhuang, who declined to disclose further details about the offering.
China is set to overtake Japan in the next two years as the second-largest travel market, with a 14 per cent share of the global market, according to a recent study by the Boston Consulting Group.
Online booking of air tickets and hotels has become a leading option for growing numbers of Chinese travellers seeking the best deals and convenience, the study said.
Qunar, which means 'where to go' in Mandarin, is a search engine designed to help travellers compare air ticket and hotel room prices, and to provide other travel-related information. Users are able to access travel products provided by airlines, hotels and travel agents, and choose the best deals for themselves.