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Soufun.com Announces Expansion Plan
September 13, 2007 |
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According to foreign media reports, Sol Trujillo, CEO of Telstra Corp, which holds 51% of the stake of China's online real estate service provider Soufun.com, says that Soufun.com will expand its business to 100 cities by the end of 2008 and then begin plans for an IPO.
Trujillo says the IPO sounds like a good idea, but first Soufun.com needs to enter about 100 cities.
In August 2006, Telestra Corp acquired 51% of the stake of Soufun.com for US$254 million, which provided an opportunity for the Australian company to enter the Chinese market.
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