Menu
Menu
Telstra signs underwriting deal for SouFun IPO

Telstra signs underwriting deal for SouFun IPO

Telstra (ASX:TLS) has signed an underwriting agreement for the IPO of Chinese web property SouFun, in a deal valuing its holding at US$433 million ($462.8 million).

The company has signed an underwriting agreement, at US$42.50 per American depository share (ADS), with joint bookrunners Deutsche Bank Securities and Goldman Sachs Asia.

Telstra plans to sell its entire 50.6% holding in SouFun, a stake it purchased in 2006 for US$254 million.

The agreement values the whole of real estate website SouFun at US$850 million. TLS shares are today trading unchanged at $2.760.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Join the newsletter!

Error: Please check your email address.

Tags ASX:TLS IPO telecommunications Telstra

More about Deutsche BankDeutsche BankGoldmanTelstra Corporation

Show Comments

Market Place

Computerworld
ARN
Techworld
CMO