HONG KONG - China Real Estate Information Corp, a provider of real estate information and consulting services, is planning to raise up to $248 million in a U.S.-listed initial public offering set for Oct 16.
The company is selling 18 million shares at a range of $11.80-$13.80, according to a term sheet obtained by Reuters News. The mid-point of that range is $230 million, and $248 million for the top end.
The Nasdaq listing will help the company fund capital expenditure, expand sales and marketing and provide funding for potential acquisitions, according to the term sheet.
Credit Suisse (CSGN.VX) is a joint bookrunner for the deal. (Reporting by Michael Flaherty; Editing by Chris Lewis)