Autohome, which is a leading provider of online auto information, reviews and listings in China, raised the proposed deal size for its upcoming IPO on Monday. The Beijing, China-based company now plans to raise up to $125 million by offering 7.8 million shares at a price range of $14 to $16. The company had previously filed to offer the same number of shares at a range of $12 to $14. At the high end of the revised range, Autohome would raise 23% greater proceeds than previously anticipated.
Autohome, which was founded in 2004 and booked $172 million in sales for the 12 months ended September 30, 2013, plans to list on the NYSE under the symbol ATHM. Autohome initially filed confidentially on July 31, 2013. Deutsche Bank and Goldman Sachs (Asia) are the joint bookrunners on the deal. It is expected to price during the week of December 9, 2013.
