PE backed SouFun hits top of range for NYSE IPO
SouFun Holdings Ltd, China's No. 2 online real estate website, has sold 2.9 million American Depositary Shares for $42.50 each, raising $124.7 million in its NYSE IPO, hitting the top end of the company’s expected price range of $40.50-42.50.
Beijing-based SouFun is 51% controlled by Australian phone company Telstra, which acquired its stake in the company in 2006 for $254 million, with IDG Ventures also a significant investor. SouFun provides...
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