Two Chinese companies are testing the waters of US investor sentiment before possible New York listings, providing a litmus test for peers that have seen fundraising plans hit by the closure of the mainland IPO market.
Online marketplace 58.com began a roadshow in Singapore on October 18 for its IPO, looking to raise up to $165 million. The company is offering 11 million American Depositary Shares ADS at an indicative price range of $13-$15 apiece. The price range represents a 2014 price-to-equity ratio of 22.4-25.7 times, slightly higher than the valuation of its peers, sources said.
There is a concurrent private placement of 15 million...
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