Lentuo International, a largest private automobile retailer in Beijing, announced terms for its IPO on Wednesday. The Beijing-based company plans to raise $94 million by offering 7.5 million ADSs at a price range of $11.50-$13.50. At the mid-point of the proposed range, Lentuo International will command a market value of $381 million. Lentuo International, which was founded in 1994 and booked $345 mil in sales last year, plans to list on the NYSE under the symbol LAS. Cowen & Company and HSBC Corporation are the lead underwriters on the deal, for which timing was not disclosed.
