Chinese Real Estate Services Company Planning NYSE IPO
CRCI, China Renaissance Capital Investment, Credit Suisse, DLJ Real Estate Capital Partners, E-House China, Farallon Capital, Merrill Lynch, NYSE, New York Stock Exchange, SIG, Susquehanna Investment Group, Zang Jianjun
Shanghai-based real estate brokerage E-House China's executive president Zang Jianjun confirmed that the company plans to go public on the New York Stock Exchange (NYSE) this year, reports China Business News. E-House China is a real estate brokerage company and also provides real estate consulting, real estate sales services and real estate fund management services. The report quoted an insider saying that E-House China plans to raise US$200 million through the listing. E-House China received US$25 million in funding from four international investors including DLJ Real Estate Capital Partners of Credit Suisse's Real Estate Private Equity Group and China Renaissance Capital Investment (CRCI), Farallon Capital and Susquehanna Investment Group (SIG) last year. CRCI holds a 20 percent stake in E-House China, said the report. Credit Suisse and Merrill Lynch are the IPO underwriters. E-House China is expected to start the listing process in July. E-House China plans to expand its number of real estate agency store locations to 200 by the end of 2007 and to 500 in 2008.