At 21:30 on September 17, Beijing time, SouFun (NYSE: SFUN) was officially listed on the New York Stock Exchange, and a total of 2,933,238 ADSs were issued at a price of US $ 42.50 per share. The opening price was $ 67.00, a 57.6% increase from the fixed price.
SouFun's $ 42.50 per share (ADS) pricing has created the highest pricing record for Chinese Internet companies listed in the United States, and is the first Internet company listed since the fall of the United States.
Of the 2,933,328 ADSs listed this time, 246,914 shares were provided by SouFun.com, 1,826,002 shares were provided by Telstra, and the remaining 860,322 shares were provided by other seller shareholders. Soufun.com's IPO transactions have Deutsche Bank and Goldman Sachs as joint bookkeeping managers and underwriters.
According to reports, in 1999, SouFun received IDG's $ 1 million angel investment; in 2003, Goldman Sachs invested in SouFun in March 2000 to acquire about 30% of SouFun for 5 million US dollars; in 2005, SouFun introduced French classified advertising company Trader Strategic investment of US $ 22.5 million; In 2006, Australia Telecom acquired 51% of Soufang ’s equity with an investment of more than 2 billion yuan (US $ 254 million). At that time, Soufang ’s market value had reached 4 billion yuan, and Trader threw out 15% of its shares. And received a triple return.
On September 20, the equity investment fund company General Atlantic (hereinafter referred to as "GA") announced that the fund had partnered with Apax Partners to acquire 19% of Soufun's shares from Telstra for US $ 163 million. Based on this calculation, Telstra sold 38% of Soufang's shares and cashed in US $ 326 million.
SouFun was founded by Mo Tianquan in 1999. It is a typical entrepreneurial team and venture capital that have grown together with nearly 5,000 employees. Its business covers 106 cities in China and has branches and offices in 63 cities across the country. .
Market analysts said that even though SouFun has broad growth prospects, it still faces fierce competition. The largest competitor, China Real Estate Information Corporation, landed on the US NASDAQ stock market last October and raised US $ 216 million. On the occasion of the SouFun online market, another Chinese internet company, Dangdang, also plans to go public in the US.
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