[photopress:ehouse_china.jpg,full,alignright]Zang Jianjun, executive president of Shanghai-based real estate brokerage E-House China’s executive president has confirmed the company plans to go public on the New York Stock Exchange (NYSE) this year. This according to a report in China Business News. E-House China is a real estate brokerage company and also provides real estate consulting, real estate sales services and real estate fund management services.
It is suggested that E-House China plans to raise US$200 million through the listing. E-House China received US$25 million in funding from four international investors. China Renaissance Capital Investment (CRCI) holds a 20% stake in E-House China.
E-House China is expected to start the listing process in July. E-House China plans to expand its number of real estate agency store locations to 200 by the end of 2007 and to 500 in 2008.
Source: Pacific Epoch