China Economic Review
Charting China’s changing economic terrain · Since 1990
China Real Estate to seek listing in US
October 5, 2009
China Real Estate Information, a provider of real estate information and consulting services, is planning to raise up to $200 million in a US-listed initial public offering.The company, a Shanghai-based unit of real estate services called E-House China Holdings, operates a database that holds information on about 38,200 developments or buildings and 24,200 parcels of land for development in 56 cities in China, according to a prospectus filed with the US Securities and Exchange Commission.
In terms of revenue, it is China’s largest provider of real-estate information and consulting services.
China Real Estate Information revenues rose 61.8% to $31.2 million in the first six months of 2009 from the same period last year, with a net income of $11 million.
Alibaba reports China Real Estate plans to list its American depositary shares on the NASDAQ Global Market under the symbol "CRIC". No specific date for the IPO was given in the filing.