58.com’s Yao Jinbo (left) seems overwhelmed by the IPO excitement on stage with Tencent’s Pony Ma (right)
Shanghai-based online property brokerage Anjuke Group has taken its first step towards a listing in Hong Kong by filing an IPO application with the stock exchange on Thursday.
The Tencent-backed company didn’t disclose the size or timetable for the initial public offering, which is being jointly sponsored by BofA Securities, CICC and Credit Suisse, however, the 14-year-old company was acquired by mainland online listings platform 58.com for $267 million six years ago, with analysts estimating last month that the stock listing could raise $1 billion.
By Jonathan Breen
09 Apr 2021
Anjuke Group, a Chinese real estate services platform that is backed by high profile investors like Tencent Holdings, Warburg Pincus and General Atlantic, is seeking approval for a Hong Kong IPO.
The Shanghai-headquartered company was founded in 2007 and has grown to be the Mainland’s leading real estate listing platform. The firm counts China s Tencent among its largest shareholders, with the internet giant holding the second largest pre-IPO stake in the issuer. The largest shareholder is Anjuke’s chairman Jinbo Yao,
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Provided by Dow Jones By P.R. Venkat Tencent-backed Anjuke Group has filed an application for an initial public offering in Hong Kong, becoming the latest technology firm to tap the active equity fund raising market in the Asian financial hub. The company that provides data and technology to the real estate industry has appointed BofA Securities, Credit Suisse, and CICC as joint sponsors for the proposed offering, an application filed to the Hong Kong stock exchange showed Thursday. Anjuke didn t disclose the offer size nor the timing of the IPO. Apart from Tencent, which has a 14.1% stake in the company, Anjuke counts private equity firm Warburg Pincus and General Atlantic as its shareholders.
Tencent-backed Chinese property services platform Anjuke files for HK IPO
REUTERS/Bobby Yip
April 8, 2021
Tencent-backed Anjuke Group Inc, an online platform that delivers real estate information, on Thursday filed an application for an initial public offering (IPO) on the main board of the Hong Kong Stock Exchange.
In its prospectus, Anjuke did not disclose the offering size and timeline for the IPO. BofA Securities, Credit Suisse, and CICC are serving as joint sponsors for the proposed offering.
The IPO filing comes over a month after Anjuke raised an aggregate $250 million in funding led by Chinese realty developer Country Garden’s affiliate Beam Merit Limited with participation from a host of industry players including New World Development, Agile, Sun Hung Kai, Henderson, China State Construction Land, Times Property, and Chinachem Group.