Autohome Plans USD 1 Billion Second Listing in Hong Kong
Autohome is planning a Hong Kong stock issuance with consultants. A person familiar with the matter told Bloomberg that it could be done as early as early next year. A representative of Autohome did not respond to a request for comment.
According to its self-description, the Beijing-based company allows auto dealers and auto companies to sell products through its website. Also, it provides an online platform for second-hand car sales. Autohome's share price has risen 16.35% this year, with a market value of approximately USD 11 billion. The firm has raised around USD 153 million through an IPO on the New York Stock Exchange.
This year, the Hong Kong Stock Exchange's initial public offering and secondary listing activities have been quite active.
It is reported that many Chinese companies listed in the United States have considered issuing stocks in Hong Kong this year. Among them, Yum China, JD.com and NetEase have been listed on the stock exchange, raising nearly USD 10 billion.