Telstra seeks IPO for SouFun

Tags
Australia  China  IPO  SouFun  Telstra

Telstra seeks IPO for SouFun

Robert Clark  |   December 02, 2009
telecomasia.net
Thumbnail: 
Telstra plans to list its Chinese online property portal SouFun in an IPO that could value the company at $1 billion.
 
Telstra, which paid $254 million for a 51% stake in the business in August 2006, said yesterday shareholders had agreed to prepare for a listing in 2010.
 
It did not say where the business would be listed.
 
SouFun Holdings, which owns the top-rated website soufun.com.cn, boosted profit 88% in the 2008 financial year and is expecting another 50% profit rise in 2009.
 
Given that online companies attract multiples of 20 times earnings, the company could achieve a valuation of $1 billion. 
 
SouFun, managed by Telstra’s directories subsidiary Sensis, is one of seven mainland China investments owned by the Australian carrier.
 
In an executive reshuffle early this week Telstra named CSL boss Tarek Robbiati as new head of the international group, which is to be headquartered in Hong Kong.
Source: 
telecomasia.net
Robert Clark

Similar

Related Articles
COMMENT (0)

Tell Us What You Think

Add comment

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd> <a> <p> <span> <div> <h1> <h2> <h3> <h4> <h5> <h6> <img> <img /> <map> <area> <hr> <br> <br /> <ul> <ol> <li> <dl> <dt> <dd> <table> <tr> <td> <em> <b> <u> <i> <strong> <font> <del> <ins> <sub> <sup> <quote> <blockquote> <pre> <address> <code> <cite> <embed> <object> <strike> <caption>
  • Lines and paragraphs break automatically.
  • Use <!--pagebreak--> to create page breaks.

More information about formatting options

Frontpage Title Only

DAILY NEWS

Video from Telecom Channel

 
M2M boom 'is happening now'
GSMA's Ton Brand talks about the embedded mobile initiative and the factors needed to spur growth and innovation.  
 

Voices_tabs

Chinese telcos will remain followers

Robert Clark
Further isolated after Vodafone exit

Why the rush to LTE?

Joseph Waring
In search of a business case
MORE

Nokia's dual-SIM play validates potential in emerging markets

Shiv Putcha/Ovum
As it prepares to take on Indian vendors

Killer IPv6 services needed to get users to upgrade

Mike Jude, Stratecast/Frost & Sullivan
Consumers need convincing to get IPv6 ready
MORE

Don't exempt wireless from net neutrality debate

John C. Tanner
Wireless must be part of the debate over net neutrality now, not later

The network is the platform for cloud services

Kate Gerwig
The era of cloud computing has arrived: Forrester
MORE

Frontpage Title Only

TOP 10

Frontpage Title Only

FEATURES

Frontpage Title Only

WHITE PAPERS

Frontpage Title Only

RESEARCH NOTES

businessweek_industryview

Tablet emergence could spell death of laptops: AT&T

Greg Bensinger
Up to $1k devices could replace all laptop functions
MORE

Vertical names 6 firms to Leaderboard

Staff writer
Cites six multinational companies for Business Ethernet
MORE

Frontpage Title Only

TELECOM CAREER

Frontpage Content by Category

SPECIALS

The top telecom stories in 1H2010

Telecomasia.net's most popular news stories, blogs, analysis and features in the first six months of 2010

lighter_side_telecom_career

Over-the-top

Staff Writer
CTIA sues San Francisco city over radiation labels
MORE

SingTel finds new CEO international

Staff writer
Hui Weng Cheong to head SingTel’s international business
MORE