Autohome the latest Chinese Web IPO to fly higher

After pricing its 7.82M-share IPO at $17, above a range of $14-$16, Autohome (ATHM) opened at $30.16 and is currently at $29.97, up 76.3%. The Chinese automotive site owner currently has a market cap of $3.12B, or over 20x its likely 2013 sales (given recent growth rates).

Over the first nine months of 2013, Autohome had revenue of $101M (+49% Y/Y), and net income of $55M. The company had over 7.7M registered users as of Sep. 30, and over 2.4M automobile listings.

Other recent successful Chinese Web IPOs: Qunar,,

F-1, IPO preview

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