Bitauto (BITA) IPO Prices at $12, High End of Range

November 17, 2010 9:30 AM EST
Bitauto Holdings Limited (NYSE: BITA) announced that its initial public offering of 10,600,000 ADSs, each representing one ordinary share of the Company, was priced at $12.00 per ADS, the high end of the expected $10.00-$12.00 range.

Citigroup Global Markets Inc. and UBS AG are serving as joint bookrunners for the offering. The co-managers of the offering are Oppenheimer & Co. and Lazard Capital Markets LLC.

The company's and websites are the most visited automotive vertical websites in China for new and used automobile pricing information, and Bitauto's digital marketing solutions business, conducted through Beijing C&I Advertising Company Limited, is the largest Internet advertising agency for automakers in China in terms of total value of advertisement placements, all according to iResearch.

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