SoftBank-Backed Beike Zhaofang Aims to Raise $3b in U.S. IPO: DJ


Beike Zhaofang, a Chinese online property brokerage backed by SoftBank Group Corp., is planning to raise $2 billion to $3 billion in a U.S. initial public offering in the coming months, Dow Jones reported, citing unidentified people familiar.

  • Firm hired Goldman Sachs Group Inc., China Renaissance Holdings Ltd. and Morgan Stanley as lead underwriters on the deal, the people said
  • Beijing-based company is seeking a valuation of more than $20 billion at its IPO, one of the people told DJ
  • Beike filed a confidential listing application with the U.S. Securities and Exchange Commission, and a public filing could come out as soon as this month, another person said
  • DJ said spokeswoman for Beike declined to comment
  • NOTE: In Dec., Tencent-Backed Beike Is Said to Mull $1 Billion IPO Next Year

©2020 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.