Leju Holdings, which operates real estate information and e-commerce websites in China, lowered the proposed deal size for its upcoming IPO on Wednesday. The Beijing, China-based company now plans to raise $110 million by offering 10 million shares at a price range of $10 to $12. The company had previously filed to offer 17.7 million shares at the same range. At the midpoint, it will raise 44% fewer proceeds than previously anticipated.
Leju Holdings, which was founded in 2008 and booked $335 million in sales for the 12 months ended December 31, 2013, plans to list on the NYSE under the symbol LEJU. It initially filed confidentially on January 21, 2014. Credit Suisse and J.P. Morgan are the joint bookrunners on the deal. It is expected to price during the week of April 14, 2014.
