China’s Autohome will raise up to $1.1 billion in its Hong Kong secondary listing, according to a term sheet seen by Reuters.
The New York-listed online vehicle firm will sell 30.29 million shares at a maximum price of HK$251.8 ($32.46) each, the term sheet shows.
An additional 4.54 million shares can be sold under the so-called green shoe option that would take the total size of the deal to $1.1 billion.
The final price will be set on March 9 and the shares will start trading on the Hong Kong boards on March 15.
The deal is being led by CICC, Goldman Sachs and Credit Suisse.
Autohome shares rose by 1.27% on the New York Stock Exchange on Tuesday to close at $118 each.
Reuters