Yunfeng Capital, GGV Capital and Stone Capital have joined a new financing round in E-House (China) Holdings Ltd., shortly after the Chinese real estate services firm completed a go-private deal, according to Chinese media reports.
Thirteen major Chinese property developers, including Evergrande Group and China Vanke, also participated in the round, which reportedly values E-House at RMB8 billion (US$1.2 billion).
The 16 entities will acquire a combined stake of less than 50%, to leave chairman Zhou Xin in control of the company.
In June 2015, E-House's management team and board member Neil Nanpeng Shen, founder of Sequoia Capital China, proposed to take the real estate services firm private by offering US$7.38 per American Depository Share (ADS).
The deal took over a year to complete at a lowered US$6.85 per ADS price earli...
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