AutoNavi Holdings Limited, which provides digital map content and location-based navigation solutions in China, announced terms for its IPO on Wednesday. The Beijing-based company plans to raise $99 million by offering 8.6 million shares at a price range of $10.50-$12.50. At the mid-point of the proposed range, AutoNavi will command a market value of $561 million. AutoNavi, which was founded in 2002 and booked $62 million in sales for the 12 months ended March 31st, 2010, plans to list on the NASDAQ under the symbol AMAP. Goldman Sachs (Asia) L.L.C. is the lead underwriter on the deal, for which timing was not disclosed.
