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China Daily Website

Auto website Autohome geared up for New York IPO

Updated: 2013-12-04 17:02
By Gao Yuan ( chinadaily.com.cn)

Chinese website autohome.com.cn is scheduled to make its debut on the New York Stock Exchange on Dec 13, as it bids to raise more than $100 million, said United States research site IPOScoop.com LLC.

The Beijing-based company will be the fifth Chinese tech firm to list in the US in less than 50 days.

Autohome is setting its IPO share price range between $12 and $14, said the report.

Deutsche Bank Securities and Goldman Sachs (Asia) LLC are co-bookrunners on the deal.

Autohome says it is the biggest online automobile information platform with more than 80 million users. The company took nearly half of market share, as of September.

China is the world's largest car market with an estimated 16 million sold in 2013, according to Xinhua News Agency.

This represents a 21 percent jump compared to last year, it said.