SHANGHAI, China, Oct. 16, 2009 (GLOBE NEWSWIRE) -- China Real Estate Information Corporation ("CRIC" or the "Company") (Nasdaq:CRIC), a leading provider of online and offline real estate information and consulting services in China, today 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 Global Select Market on October 16, 2009 under the symbol "CRIC."
All of the 18,000,000 ADSs sold in the offering were sold by CRIC. The underwriters have been granted a 30-day option to purchase up to 2,700,000 additional ADSs from CRIC to cover over-allotments.
Credit Suisse Securities (USA) LLC and UBS AG acted as joint book runners for the offering.
CRIC's registration statement relating to these securities has been declared effective by the United States Securities and Exchange Commission. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The offering of the securities is made only by means of a prospectus forming a part of the effective registration statement. A copy of the prospectus relating to the offering may be obtained by contacting Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, Eleven Madison Avenue, New York, NY 10010; phone: +1-800-221-1037; or by contacting UBS Investment Bank, Attn: Prospectus Department, 299 Park Avenue, New York, NY 10171; phone: +1-877-827-6444 ext. 561-3884.
CRIC is a subsidiary of E-House (China) Holdings Limited ("E-House") (NYSE:EJ), a leading real estate services company in China. CRIC will merge with the online real estate business of SINA Corporation ("SINA") (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.
About China Real Estate Information Corporation
China Real Estate Information Corporation ("CRIC" or "the Company") (Nasdaq:CRIC) is a leading provider of online and offline real estate information and consulting services with a presence in over 50 cities across China. CRIC's proprietary, advanced and comprehensive real estate information database and analysis system provides a broad range of real estate-related services to all participants in the real estate value chain, including developers, suppliers, agents, brokers, service providers and individual consumers. CRIC's comprehensive services include subscription-based information services, customized consulting services, advertising services, and online services through several real estate websites which provide region-specific real estate information and access to online communities. For more information about CRIC, please visit http://www.cric.com.
Safe Harbor Statement
This announcement contains forward-looking statements that relate to CRIC's anticipated acquisition of SINA Corporation's online real estate business. These forward-looking statements can be identified by terminology such as "will," "expect," "anticipate," "plan," "believe," "may," "intend," "subject to" and similar statements. Statements that are not historical facts, including statements about CRIC's beliefs and expectations, are forward-looking statements and are subject to change, and such change may be material and may have a material adverse effect on CRIC's financial condition and results of operations for one or more prior periods. Forward-looking statements involve inherent risks and uncertainties. All information provided in this press release is as of the date of this announcement, and CRIC does not undertake any obligation to update any such information, except as required under applicable law.