It is reported that SouFun, China's second largest real estate website, is preparing to list on the New York Stock Exchange. This IPO plans to raise US $ 300 million. SouFun may become the largest Chinese Internet company listed in 2010.
People familiar with the matter said that JPMorgan Chase, Bank of America Merrill Lynch and UBS are following up on this project, but because the listing is still inconclusive, SouFun has not yet decided who will be the underwriter. Earlier news said that Goldman Sachs and Deutsche Bank are also competing for the business. Sources revealed that SouFun will be listed before the end of the year.
Telstra acquired a 51% stake in Soufun in 2006 for US $ 254 million. The valuation of Soufun at the time was US $ 500 million. At the time, Telstra stated that Mo Tianquan, CEO and founder of Soufang, was still the majority shareholder, and the remaining shares were held by management and venture capital IDG. A spokesperson for Telstra declined to comment on the matter.
The company's value has grown rapidly since 2006 and is currently valued at approximately US $ 1 billion. It is expected that the listed share capital will account for 25% of the total share capital. The source said that the bank and Mo Tianquan have been arguing about the company's final valuation. Investment bankers who participated in the listing plan revealed that the estimated value of the listed shares is between US $ 100 million and US $ 300 million.
SouFun covers 104 cities in China and has 20 million registered users. Its competitors include China Real Estate Information Corporation (CRIC), the market leader, which was listed on NASDAQ in October 2009 and raised US $ 216 million. Since its listing, its share price has fallen by 21%.
It is understood that the top three online real estate dealers in China jointly contributed 210 million yuan in advertising revenue in the fourth quarter of 2009, which is nearly double the number compared to the first quarter.
The above information source "Venture Investment" is authorized by the China Venture Capital Research Institute (CVCRI) to publish it. All rights reserved. Please indicate the source when reprinting. For more information, please click download to view all articles.
For more information, please refer to Guotaian Financial Education Group Guotaian Education Service Network Tel 400-609-6665 800-999-3099
E-mail:
When it comes to performing a repeated task, specialized Kitchen Gadgets and accessories cut down on prep time. Our peelers, squeezer and strippers are a few of the convenient kitchen items that help prepare veggies and leafy greens. We also have kitchen tools for cooking eggs, grating spices and cheeses, and prepping fruits like berries and melons. We are always on the lookout for the latest thing while making sure we have the essential kitchen tools and gadgets that are up to the task for all your prepping, baking and cooking needs.
Kitchen Gadgets
Kitchen Gadgets,Popular Kitchen Gadgets,Stainless Steel Kitchen Gadgets
Yangjiang Superwins Trade Co., Ltd. , https://www.steelkitchenware.nl