SoftBank-Backed Beike Seeks Up to $2 Billion in U.S. IPO
- China online property platform is backed by Tencent, SoftBank
- Beike will be largest U.S. IPO by a Chinese firm since 2018
Buildings stand in Ningde, Fujian province, China, on June 3.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
KE Holdings Inc., a Chinese online property platform backed by Tencent Holdings Ltd. and SoftBank Group Corp., is looking to raise about $2 billion in a U.S. initial public offering.
Also known as Beike Zhaofang, the company is offering 106 million American depositary shares at $17 to $19 each, according to a filing with the U.S. Securities and Exchange Commission on Friday. The company said the shares will represent three of its Class A ordinary shares.