Telstra raises $320m from Autohome share sale

The Australian telecoms and media company nets $320 million after selling an 8% stake in Autohome. More than 90 lines participated in the offering.

Telstra raises $320m from Autohome share sale

Telstra, the Australian telecoms and media company, raised $320 million after selling an 8% stake in Autohome, the US-listed Chinese car-trading website.

The group offloaded 6 million shares in Autohome at $42.50 per share, a 1.8% discount to the November 19 close of $43.26. Autohome shares dropped 8% from the time books opened on November 14 up to November 18 but have since recovered.

“The stock actually rallied and closed 5.2%...

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