(Yicai Global) April 8 -- Anjuke, a major Chinese real estate data and technology provider, has filed for an initial public offering in Hong Kong, marking the first time that life services platform 58.Com has spun off a unit since going private last year.
Shanghai-based Anjuke did not disclose the offering’s size or timing in its IPO prospectus. Its application documents showed that the firm closed a USD250 million fundraiser on March 2 led by Beam Merit, an affiliate of property giant Country Garden. The round also drew other homebuilders such as Sun Hung Kai Properties.
Anjuke was China’s biggest online property platform in the fourth quarter of last year, with 67 million monthly active mobile users and over 726,000 online paid brokers, according to data from iResearch. Formed in 2007, it was bought by 58.Com in 2015.
Its operating revenue was CNY6.2 billion (USD946.6 million) in 2018, CNY7.6 billion in 2019 and CNY8.1 billion in 2020, the prospectus showed. Net profit tallied CNY1.9 billion in 2018, CNY2.3 billion in 2019 and CNY2 billion last year.
58.Com is Anjuke’s biggest shareholder with a 45.3 percent stake, followed by Chinese internet giant Tencent Holdings at 14.1 percent and 58.Com Chairman and Chief Executive Michael Yao with 13.5 percent.
Last September, a consortium led by Yao finished taking 58.Com private for USD8.7 billion, ending a seven-year run on the New York Stock Exchange.
Besides Anjuke, 58.Com owns other independent life services platforms, including auto trader Chehaoduo, housekeeping provider Tiane Daojia and on-demand cargo transporter Kuaigou Dache.
Editors: Dou Shicong, Peter Thomas