|Bid||64.39 x 900|
|Ask||64.48 x 1400|
|Day's range||61.80 - 64.60|
|52-week range||47.20 - 74.17|
|Beta (5Y monthly)||1.66|
|PE ratio (TTM)||31.75|
|Earnings date||25 Feb 2020 - 01 Mar 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||66.86|
(Bloomberg) -- 58 Home, owned by China’s Craigslist equivalent 58.com Inc., is close to completing a private fundraising en route to a U.S. initial public offering that could value the online services platform at as much as $2 billion, people familiar with the matter said.The business, known locally as 58 Daojia, is seeking funds to bankroll an expansion into China’s competitive online services arena. It’s now wrapping up a pre-IPO financing round at a valuation of more than $1 billion, the people said, requesting not to be named because the matter is private. Once that’s done, 58 Home intends to prepare for a U.S. debut in which it will seek a valuation of between $1.5 billion and $2 billion, one of the people said.Deliberations are at an early stage and details of the potential offering could still change, the people said. Liu Cong, a spokesman for 58.com, declined to comment, while a representative for 58 Home also had no comment. 58.com’s shares rose 2% in New York.58 Home is one of China’s leaders in helping people connect online with services from flower delivery to home-cleaning. Backed by Tencent Holdings Ltd., it’s vying for market share however against deeper-pocketed rivals such as Meituan Dianping and certain businesses operated by e-commerce leader Alibaba Group Holding Ltd. All are eyeing a slice of a market for physical, on-demand services still largely undisrupted by online technology.58.com’s unit raised its last private funding round in 2015, garnering $300 million from investors including Alibaba, KKR and Ping An Group. Parent 58.com holds 68.8% of the company’s equity interest but doesn’t consolidate the unit’s financials in its own results, according to its annual filing.(Updates with shares in third paragraph)\--With assistance from Julia Fioretti and Manuel Baigorri.To contact Bloomberg News staff for this story: Lulu Yilun Chen in Hong Kong at firstname.lastname@example.org;Dong Cao in Beijing at email@example.comTo contact the editors responsible for this story: Peter Elstrom at firstname.lastname@example.org, ;Fion Li at email@example.com, Edwin ChanFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
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