Chinese automobile-focused e-commerce firms Tuhu.cn and Mychebao.com have raised roughly $100 million and $50 million respectively in private capital from fund managers that continue to deploy capital on the mainland despite a central government-imposed freeze on initial public offerings.
The last time the government intervened to suspend IPOs was in November of 2012. Fund managers who experienced that 14 month-long suspension now appear more confident in alternative avenues of divestment such as trade sales and private placements.
Tuhu, a Shanghai-based e-commerce site founded in 2011 and specialising in online sales of tyres and car maintenance products, raised approximately $100 million in Series C...
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