IPO of Chinese Real Estate Website
An initial public offering is being prepared in the United States for one of China's largest and best online real estate website, SouFun. The IPO is estimated to be worth up to $300 million, and sources have reported that it could be the biggest public listing of a Chinese online company in 2010. No final mandates have yet been given as the deal is being worked on by UBS AG, JPMorgan Chase & Co, and Bank of America.
Much of the deal has not yet been finalized and so there is still plenty of anonymity from the IPO deal makers. SouFun is expected to be listend on the New York Stock Exchange by the end of the year. Currently, the Australian company Telstra Corp. owns 51 percent of SouFun.
Photo source nancyarora2020