Backed by $926m Series B funding, Lianjia to IPO in China, HK or US: Report

Beijing-based O2O real estate agency service firm Lianjia is preparing for an initial public offering in China, Hong Kong or the US, just two weeks after the platform completed a RMB6 billion ($926 million) Series B financing round led by Huasheng Capital, Jiemian.com reported.

Baidu Inc and Tencent Holdings Ltd also joined the funding round as strategic investors alongside Huasheng Capital, a private equity fund established by China Renaissance Partners.

According to the article on Jiemian.com, Lianjia’s Series B round is now worth RMB7 billion, including RMB3.8 billion in new share issuance and RMB3.2 billion in existing share transfers.

Source Code Capital, Hillhouse Capital and Matrix Partners China are also named as investors in the round. The company is valued at RMB36.8 billion after the completion of the current round.

The Series B investors have signed a repurchase agreement with Lianjia, also known as Home Link.

The agreement noted that if the company fails to complete an IPO in Shanghai, Shenzhen, Hong Kong or the NASDAQ in five years, investors can demand the company buy back its shares at an annualized rate of 8 per cent, the report said.

Lianjia’s services cover 20 major cities in China, and takes over 50 per cent market share in Beijing and Chengdu.

In 2015, the company completed real estate transactions with total transaction value of RMB709 billion and recorded revenues of RMB15.5 billion.

Also Read:

China’s Huasheng Capital leads $926m Series B in Lianjia: Report

China: Shanda Capital’s Chen Tianqiao leads $23m Series B round in TULIU.com

China Dealbook: Renren Express raises $50m, Xinhuanet.com seeks $216m IPO

China Dealbook: Yaochufa seals $85m Series D, roseonly raises $29m Series C

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.