Top China ADR Portal

China ADR stock research


Warning: strtotime(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home1/chinaves/public_html/libraries/joomla/utilities/date.php on line 56

Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home1/chinaves/public_html/libraries/joomla/utilities/date.php on line 198

Telstra To Sell SouFun Stake

E-mail Print PDF

sale2 August 13, 2010 (Chinavestor) Telstra Corp., Australia's biggest telecom firm, will sell its take in SouFun, China's second-largest real estate Web site, to private equity firms General Atlantic and Apax Partners for about $400 million. The agreement values Telstra's 51 percent stake at more than $400 million, or $810 million for the entire company, according to Reuters.

Telstra will part with its stake while 25% of SouFun will go toward an initial public offering. Strategic investors will acquire the rest of SouFun. Analysts had believed the SouFun could be worth as much as $1 billion, but the $800 million price tag is well above the $500 million Telstra paid to acquire 51% of SouFun four years ago.

Telstra hopes to list SouFun on the New York Stock Exchange by October. Sources said the company is planning a $300 million IPO that is being managed by Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM) and UBS (NYSE:UBS), Reuters reported.

SouFun's top competitor is China Real Estate Information (Nasdaq:CRIC), which listed its shares in the U.S. last October. That IPO was worth $216 million.



If you like us, spread the word to the fellow investors on your favorite Social Bookmarking websites
Reddit! Del.icio.us! Mixx! Free and Open Source Software News Google! Live! Facebook! StumbleUpon! TwitThis Joomla Free PHP
 

!!! CHINAVESTOR.COM is for SALE !!!

BUY this domain with all its credentials. Chinavestor.com has been added to Google News and Finance since 2008! Huge web traffic upside potential! Website is optimized for Chinese stocks but can easily be tweaked. Contact Seller Here

sale1
G_news
Check out The Benefits of Getting into Google News!