KE Holdings, China's largest housing transactions and services platform, filed on Friday with the SEC to raise up to $1.0 billion in an initial public offering.
The company's Beike platform is China's largest housing transactions and services platform and its second largest commerce platform across all industries by gross transaction value and housing transaction facilitated in 2019. As of June 30, 2020, its platform had over 260 real estate brokerage brands, over 42,000 community-centric stores, and over 456,000 agents across 103 cities in China.
The Beijing, China-based company was founded in 2001 and booked $6.4 billion in revenue for the 12 months ended March 31, 2020. It plans to list on the NYSE under the symbol BEKE. KE Holdings filed confidentially on April 24, 2020. Goldman Sachs, Morgan Stanley, China Renaissance, and J.P. Morgan are the joint bookrunners on the deal. No pricing terms were disclosed.
