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