Telstra to sell SouFun stake in IPO
- 03 September, 2010 12:31
- Comments
Telstra Corporation Ltd says it will sell its 50.5 per cent share in SouFun Holdings when the Chinese real estate website has an initial public offering (IPO) later this year.
SouFun filed a registration statement for an IPO of American Depositary Shares (ADS) representing the Class A ordinary shares of the real estate company, Telstra said.
The initial share offer is scheduled to be completed by September 30, 2010.
An indicative price range per ADS of $US40.50 to $US42.50 would value 100 per cent of SouFun at around $US810 to US$850 million ($A889.33 to $933.25 million).
Telstra bought its stake in SouFun for $US254 million ($A278.88 million) in 2006.
The telco said currency movements would affect any accounting profit or loss from the sale in SouFun.
Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.
- Bookmark this page
- Share this article
- Got more on this story? Email CIO
- Follow CIO on twitter
- Email Encryption/Decryption and Signing integrated into a comprehensive content security solution
- SOA and Business Processes: Making the Connection
- HTML5 and security on the new web
- Sun Blade 6000 Modular System: Power and Cooling Efficiency
- Optimising your Infrastructure for Cloud Computing - Best practices for managing a cloud IT environment
-
QLD govt demands answers after pay glitch
-
Monash Uni reduces IT teams after consolidation project
-
iPad initiative for pupils in WA
-
All Systems Down
-
NBN to deliver disability support services to regional Australia
-
Best practices for a Data Warehouse on Oracle Database 11g
Increasingly companies are recognizing the value of an enterprise data warehouse (EDW). A true EDW provides a single 360-degree view of the business and a powerful platform for a wide spectrum of business intelligence tasks ranging from predictive analysis to near real-time strategic and tactical decision support throughout the organization. Read on. -
Secure File Sharing in the Cloud: Maximizing the Benefits
Unmanaged cloud-based services can put organizations at risk for a data breach or non-compliance. Learn about the factors you should consider for deploying an enterprise-class secure file sharing solution in the cloud—including the benefits and risks of public, private, and hybrid options. -
Case Study: NZ Bus Develops Applications 60% Faster, Improves Database Performance by up to 35%
Key Benefits: Developed applications 60% faster, Created development and test environments in minutes compared to days and weeks previously, Reduced server costs by 30% with server virtualisation, Saved NZ$40,000 in database administrator training costs, Provided high availability features that keep the database and core applications up and running in the event of a server failure, Introduced compression capabilities that improved database performance by 30% to 35%. Read on.




















Comments
Post new comment