China’s Autohome will raise up to $1.1 billion in its Hong Kong secondary listing, according to a term sheet seen by Reuters.

The New York-listed online vehicle firm will sell 30.29 million shares at a maximum price of HK$251.8 ($32.46) each, the term sheet shows.

An additional 4.54 million shares can be sold under the so-called green shoe option that would take the total size of the deal to $1.1 billion.

Autohome shares rose by 1.27% on the New York Stock Exchange on Tuesday to close at $118 each.

Read more at: Reuters

By Scott Murdoch and Sam Holmes

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