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China Stocks

Home Inn IPO

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I heard it first from Bill Bishop’s blog.

Home Inns (如家), China’s leading budget hotel chain, filed for an IPO about a month ago and is expecting to hit the NASDAQ sometime in September, assuming market conditions hold.

A few day ago I got more info From Pacific Epoch

Shanghai based hotel chain Home Inn plans to hold a road show in Hong Kong starting on October 9 and then in the United States on October 19, eNet reports quoting Home Inn CEO Sun Jian. Sun said that Home Inn plans to list on Nasdaq in the fourth quarter of 2006. Home Inn currently has 104 hotels with 11,754 rooms, ranking second among Chinese economy hotel chains. The underwriters for the IPO are Merrill Lynch and CSFB. Online travel services provider Ctrip (Nasdaq: CTRP) and Beijing Travel Group invested a total of 10 million Yuan in Home Inn in 2002. Home Inn has received investment from Sycamore, IDG and Susquehanna (SIG). Ctrip co-founder Neil Shen founded Home Inn.

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