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Tencent
700,
-backed Tuhu Auto ideas to increase up to 1.26 billion Hong Kong dollars ($160.89 million) via an initial community supplying in Hong Kong.
The company claimed Thursday it strategies to promote virtually 40.62 million shares, and is advertising them at a price tag selection of among HK$28 to HK$31 a share.
Tuhu offers integrated on line and offline platforms for automotive service in China.
Tuhu expects to finalize the IPO value on Sept. 19, and expects its shares to get started investing on the Hong Kong exchange from Sept. 26.
As of the end of March, Tuhu experienced 100.2 million registered buyers and elevated a number of sequence of equity funding from a variety of investors for enterprise enlargement. Other than Tencent, other traders consist of Carlyle Team and Sequoia China.
Proceeds from the IPO will be used towards organization enlargement and exploration and improvement.
Goldman Sachs, UBS, and BofA Securities are amongst the banking companies advising Tuhu on the IPO.
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