7 Days Group Holdings, which converts and operates limited service economy hotels across major metropolitan areas in China, announced terms for its IPO on Monday, only a week after submitting its initial filing. The company plans to raise $101 million by offering 10.1 million American Depository Shares at a price range of $9.00 to $11.00. At the mid-point of the proposed range, 7 Days Group Holdings will command a market value of $600 million. The national company, which was founded in 2004 and booked $106 million in sales in 2008, plans to list on the NYSE under the symbol SVN. J.P. Morgan, Citi, and Oppenheimer & Co. (previously J.P. Morgan and Deutsche Bank) are the lead underwriters on the deal, which is expected to price next Thursday, Nov. 19.
