Venture capital-backed Chinese travel website Qunar has filed to raise $125m via an IPO on the New York Stock Exchange.
GSR Ventures and GGV Capital hold stakes of 6.27 and 4.54 per cent respectively in the business, which is majority owned by Chinese search engine Baidu, according to a document filed with US securities regulators.
The company, which posted a RMB81m ($14.9m) loss on revenues of RMB502m ($82m) last year, will trade under the symbol QUNR.
GSR and GGV did not specify how much of their stakes they were looking to sell.
In 2011 Baidu put $306m in Qunar, which has also received investments from Mayfield Fund and Tenaya Capital.
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