real-estate-broker-ehouse-seeks-us-listing

Real estate broker E-House seeks US listing

Marketing itself as a prime beneficiary of ChinaÆs property market boom, E-House aims to raise up to $197 million.
Chinese real estate services company E-House Holdings yesterday launched the roadshow for a US initial public offering that aims to raise up to $197.1 million.

The real estate broker is offering 14.6 million American depositary receipts ADRs, or 19.6% of its enlarged share capital, at a price ranging from $11.50 to $13.50. Each ADR represents one ordinary share. Of the total, 27.5% are existing shares which will be sold by company directors and executive officers through a couple of jointly held investment companies. Credit Suisse and Merrill Lynch are the joint bookrunners.

E-House provides primary real estate agency services, secondary real estate brokerage services as well as real estate consulting and information services...
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