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Miguel Cordon · · 1 min readOnline car-buying platform Autohome may raise up to $1.1b in Hong Kong listing
“China’s Autohome will raise up to US$1.1 billion in its Hong Kong secondary listing,” according to a term sheet seen by Reuters.
Details:
- The online car-buying platform is set to offer 30.29 million shares at a maximum price of HK$251.8 (US$32.46) apiece. The final price will be set on March 9, with trading slated to begin on March 15.
- Autohome may offer an additional 4.54 million shares under the so-called greenshoe option, potentially taking the total size of the deal to US$1.1 billion.
Context:
- Shares of Autohome jumped by 1.27% on the New York Stock Exchange to close at US$118 per share on Tuesday.
- The move comes after the company reported a 6.6% revenue increase year on year to US$380.6 million in the fourth quarter of FY2020.
Currency converted from HK dollar to US dollar: US$1 = HK$7.76.
Editing by Collin Furtado and September Grace Mahino
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