Top Biz News

SouFun seeking US IPO

By Hu Yuanyuan (chinadaily.com.cn)
Updated: 2009-12-02 16:58

SouFun Holdings, China's largest real estate website, is striving for an initial public offering (IPO) in the US capital market in the first half of 2010, sources told China Daily yesterday.

Related readings:  Ten years too long to fix property market  Blowing up a property bubble  Check zooming property prices  Real estate reflects falling morality  Telstra on track to post A$1b in China within?5 years

"As the property market revives and market competition intensifies, a public listing is a must now, and we will try to make it done in the first six months of next year," said the source, adding shareholders have already voted to go ahead with the IPO plan."We will float shares in the US instead of Hong Kong."

Australia's largest telephone firm, Telstra Corp Ltd, which holds a 51 percent stake in the property portal, said in a statement on late Tuesday that the company plans to sell down its stake in SouFun via IPO.

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