China Real Estate Information (CRIC) IPO Trades Higher
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The IPO for China Real Estate Information Corporation (Nasdaq: CRIC) is open for trading. Shares are trading at $13.08 after pricing 18,000,000 ADSs at $12.00.
Credit Suisse Securities (USA) LLC and UBS AG acted as joint book runners for the offering.
CRIC is a subsidiary of E-House (China) Holdings Limited (NYSE: EJ), a leading real estate services company in China. CRIC will merge with the online real estate business of SINA Corporation (Nasdaq: SINA), a leading online media company and mobile value-added service provider for China and for global Chinese communities, effective as of the closing of CRIC's initial public offering. E-House will be the majority shareholder of CRIC and SINA will be the second largest shareholder of CRIC.
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