Tencent-Backed Online Property Brokerage Platform Considers $1B IPO in 2020
Investing.com - China-based online property brokerag platform Beike Zhaofang is considering raising at least $1 billion from an IPO next year, according to Bloomberg which cited people familiar with the matter.
Beike, which means shells in Chinese, is backed by Chinese technology giant Tencent Holdings. Bloomberg said the IPO could happen as soon as 2020, although the venue of the listing is not decided yet.
Details of the offering are not confirmed yet as deliberations are at an early stage, the people said, noting that the company is working with an adviser for the potential share sale.
The company raised about $800 million from Tencent in a funding round earlier this year.
Disclaimer:Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate.
All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes.
Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website.
Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.