Date
17 October 2017

Autohome seeks US$120 mln in US share offering, report says

Chinese car sales website Autohome Inc. aims to raise up to US$120 million in an initial public offering of American depositary shares on the New York Stock Exchange, news portal Qq.com reported Tuesday, citing unnamed sources. The company, majority owned by Australian telecommunication and media giant Telstra Corp. Ltd., said proceeds of the share sale will be used to invest in technology and product development, as well as to boost sales and marketing efforts. Deutsche Bank and Goldman Sachs are the underwriters, the report said.

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MY/AC/CG

 

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