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China-based auto website operator Bitauto Holdings submits filing for $80 million IPO

October 29, 2010

Bitauto Holdings Limited, which is a leading provider of Internet content for the automotive industry in China, filed on Friday with the SEC to raise up to $80 million in an initial public offering. The Beijing, -based company, which was founded in 2005 and booked $44 million in sales over the last 12 months, plans to list on the NYSE under the symbol BITA. Citi, UBS Investment Bank are the lead underwriters on the deal. No pricing terms were disclosed.