UBS Acquires Minority Stake In China’s Autohome Inc

UBS AG Group has taken a stake in New York Stock Exchange-listed Chinese online automobile portal Autohome Inc., according to a securities filing.

As of December 31, 2014, UBS owned 3.597 million class A ordinary shares of Autohome. Based on the company’s most recent closing price of US$36.48 per share, the stake would cost a total of US$131 million.

The stake makes the Swiss banking group the fourth largest shareholder in Autohome, after Australia’s largest telecommunications and media company, Telstra Corporation Limited, the company’s CEO Li Xiang, and New York-based investment firm Tiger Global Management, LLC., according to an earlier filing.

Tiger Global held 6.735 million class A ordinary shares as of last November.

China Expert network