China Real Estate Information (CRIC) IPO Prices at $12
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China Real Estate Information Corporation (Nasdaq: CRIC) announced that its initial public offering of 18,000,000 American depositary shares (ADSs), each representing one ordinary share of the company, was priced at $12.00 per ADS. The ADSs will begin trading on the NASDAQ today under the symbol "CRIC."
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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