Bitauto Holdings Limited, which is a leading provider of Internet content for the automotive industry in China, announced terms for its IPO on Wednesday. The Beijing-based company plans to raise $117 million by offering 10.6 million ADSs at a price range of $10-$12. At the mid-point of the proposed range, Bitauto will command a market value of $471 million. Bitauto, which was founded in 2005 and booked $44 million in sales last year, plans to list on the NYSE under the symbol BITA. Citi and UBS Investment Bank are the lead underwriters on the deal, which is expected to price during the week of November 15.
