Orchid Asia-Backed Autohome Completes $133M US IPO

Beijing-based online automobile marketplace Autohome has completed its IPO on the New York Stock Exchange, offering 7.8 million American Depositary Shares (ADSs) at US$17, raising a total of US$132.94 million.

In November, Autohome planned to sell 8.99 million ADS at US$12-$14 apiece, for a fundraising total of US$125.9 million.

Australia’s mobile phone and broadband Internet service provider Telstra and Chinese venture and private equity firm Orchid Asia hold a 71.5% stake and a 12.6% stake in Autohome before the IPO.

Their stakes are projected to reduce to 66.2% and 11.7% respectively after the IPO.

China Expert Network
 
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