SouFun Holdings, China’s no. 2 real estate website, raised US$125 million selling shares at the top of its forecast price range in this month’s first US initial public offering, Bloomberg reported. The company sold 2.93 million US depositary receipts at US$42.50 each on Thursday. The offering comes as the number of internet users in China, the world’s fastest growing major economy, surpasses the entire US population. Analysts said SouFun was valued at 14.3 times earnings, 14% less than the average of six internet portals and property information providers. The IPO is the first of at least 10 scheduled in the US this month after the Standard & Poor’s 500 Index rebounded by 10% from its 2010 low in July.
Categories