Chinese car buying site applies for US IPO

Australia’s leading telco Telstra has submitted application documents to list Chinese car sales website Autohome on the New York Stock Exchange, the official Xinhua News Agency reported. In a statement released to the Australian Securities Exchange on Tuesday, Telstra CEO David Thodey said the initial public offering for Autohome would be an important milestone for the website. Telstra has recently increased its shareholding in Autohome from 66% to 71.5% ahead of the planned listing.