On August 23, Soufun CEO Mo Tian confirmed that Soufun "IPO is on the way". He also confirmed that SouFun's controlling shareholder, Australia Telecom, had indeed spent months finding two PE institutions, General Atlantic and Apax Partners, to discuss the subscription.
He also said that in the above-mentioned negotiations, "the valuation is better than we expected", but Australia Telecom has not officially discussed this matter with SouFun.
As for the IPO time of Soufun.com, Mo Tianquan said that the IPO is on the road, and the time is still being selected.
Ten days ago, according to Reuters, two PE institutions and two shareholders of SouFun agreed to subscribe for 51% of the shares owned by Telstra to provide reimbursement services for the subsequent IPO of SouFun.com. Telstra said that if SouFun's IPO subscription is insufficient, the two shareholders of the above investors agreed to purchase the difference in the IPO shares. In this transaction, the valuation of SouFun.com is set at US $ 810 million, and the subscribed shares will be worth about US $ 400 million.
The report also mentioned that Australia Telecom hopes that SouFun will be listed on the New York Stock Exchange before October 2010. Telstra purchased 51% of Soufang's shares for US $ 254 million in August 2006, when it was valued at US $ 500 million. Mo Tianquan currently holds 30% of the shares, and other investors include IDG.
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