Crowded house

13 August 2020 By Alec Macfarlane

Tencent-backed KE’s U.S. debut could value it at $23 bln. Home sales in China are recovering on easier credit, and the company is growing fast. It’s an online play on a sector that has consistently proven sceptics wrong. The price, however, may cause buyers’ remorse.

This content is for Subscribers only

Context News

Online real estate services company KE Holdings plans to raise $2.1 billion from its initial public offering in New York, marking the biggest U.S. IPO of a Chinese company in two years.

KE plans to sell 106 million American depositary shares at $20 each, above the top end of a marketed range of $17 to $19 a share, Refinitiv publication IFR reported on Aug. 12, citing people close to the deal.

KE owns and operates Lianjia, a real estate brokerage, and Beike, an online and offline platform for housing transactions and services.

KE’s IPO will be the biggest U.S. listing of a Chinese company since iQiyi raised $2.3 billion in 2018.

Goldman Sachs, Morgan Stanley, China Renaissance, JPMorgan and CICC worked as underwriters on the offering.

Email a friend

Please complete the form below.

Required fields *