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58.com to offer 9.2m American Depositary Shares

2014-03-26 10:54 chinadaily.com.cn Web Editor: qindexing

US-listed Chinese online marketplace operator 58.com Inc announced on Monday it will offer 9.2 million American Depositary Shares to earn up to $439 million.

Every ADS represents two Class A ordinary shares of the company.

Of the offer, 4 million ADS will be sold by the company and 4 million ones transferred from existing shareholders.

The company intends to grant the underwriters a 30-day option to sell 1.2 million additional ADS.

It estimated a maximum offering price of $23.87 per share, or $47.74 per ADS, to achieve $439 million at most.

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