Gasgoo.com (Shanghai April 18th)– ATHM.NYSE，a listed Internet company in China releasing automotive sources, announced that China Boyu Capital, Hillhouse Capital, Sequoia China as well as executive members of ATHM.NYSE offered to privatize ATHM.NYSE by buying itsAmerican Depositary Sharesat the price of US dollar 31.50 each in the afternoon of April 16.
Companies mentioned above will jointly establish a financial group which will conduct equity financing with the help of financing banks of each member to conduct this shares acquisition.
This offer was made just one day after that Telstra, the dominant shareholder of ATHM. NYSE before, had announced on April 16 that it would sell 47.7% shares of ATHM.NYSE to China Ping An Insurance Group at the price of US dollar 1.6 billion on April 15. In this way, Shares of ATHM.NYSE held by Telstra will be reduced to 6.5%.
Andy Penn, CEO of Telstra, said that, considering ATHM.NYSE has performed well since listed in 2008, now it might be the best time for shareholders of Telstra to get returns on their investment by selling some shares of ATHM.NYSE. In fact, Telstra has begun to sell its shares of ATHM.NYSE not so long after ATHM.NYSE going public, which stems market value of ATHM.NYSE from increasing to some extents.
But the financial group cannot carry out their plan to privatize ATHM.NYSE until further negation being made and getting approval from China’s government.
