Qunar plans to go private as firms return to China bourses

Qunar Cayman Islands Ltd has received a preliminary offer from Ocean Management Ltd to buy all outstanding shares of the online travel agency, the move making it the latest example of a proposed privatization of a US-listed Chinese company.

The private equity firm offered $30.39 for each American depositary receipt and $10.13 for each ordinary share, according to a statement from Qunar on Thursday. The non-binding agreement is a 15 percent premium to the closing ADR price on Wednesday.

Chinese online trip-booking sites have benefited from a boom in overseas travel, though profits have been squeezed as the industry becomes increasingly competitive.