E-House (NYSE: EJ), a leading real estate services company in China, today announced that its wholly-owned subsidiary Leju, former real estate channel of Sina, has submitted a draft registration statement for a proposed IPO on US market. Moreover, the subsidiary also entered into a strategic cooperation agreement with Tencent (HKG: 0700). [Update] Tencent announced March 21 that it will acquire 15% of the fully diluted shares in Leju with $180 million and the transactions is expected to be finalized by the end of this month.

Leju is a leading provider of real estate online services including advertising, listings and product launch information (Real Estate Online Information), and online-to-offline e-commerce services that facilitate real estate transactions in China.

E-House may sell part of Leju’s shares, but it will still be the largest shareholder of the latter after the proposed IPO. The number of American depository shares to be issued by Leju in the IPO has yet to be determined, the parent company added.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.