Telstra (ASX:TLS) has arranged four underwriters for the IPO of Chinese online real estate SouFun.
Private equity firms General Atlantic and Apex Partners, and two existing shareholders of SouFun, have agreed to purchase any remaining shares held by Telstra not sold in the IPO.
If the IPO cannot be completed within a specific period, the firms will purchase Telstra's entire holding for an amount that would value the company at US$810 million ($906.2 million).
Telstra acquired its 51% stake in Soufun in 2006 for US$254 million.
Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.