Bookbuilding kicks off for Autohome follow-on

Executives start a four-day roadshow for Chinese car trading website's follow-on, which could net majority shareholder Telstra north of $300 million.

Bookbuilding kicks off for Autohome follow-on

Roadshows kick off Friday for a follow-on share offering by Autohome, the US-listed Chinese car-trading website.

On offer are 8.5 million shares. Roughly six million of these will be offloaded by Telstra, the Australian telecom and media company which currently owns roughly 65% of the company and is looking to snip its stake to 57%.

Depending on demand, the Deutsche Bank and Goldman Sachs-led share sale could net Telstra up to...

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