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Shares of Chinese auto website Autohome soar in US debut

Wednesday, 11 Dec 2013 | 10:17 AM ET

Dec 11 (Reuters) - Shares of Autohome Inc, an owner of Chinese auto websites, rose as much as 83 percent in their U.S. market debut, valuing the company at about $3.2 billion.

Autohome, controlled by Australia's largest phone company Telstra Corp Ltd, raised $133 million after its initial public offering was priced at $17 per share, above the expected range. (http://link.reuters.com/xun35v)

Autohome shares opened at $30.16 and rose to a high of $31.25 on the New York Stock Exchange on Wednesday.

Deutsche Bank and Goldman Sachs were the lead underwriters of the 7.8 million American depositary share offering.

(Reporting by Varun Aggarwal and Neha Dimri in Bangalore; Editing by Kirti Pandey)

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