Seeking Alpha

E-House bucks Chinese selloff on Leju IPO news

  • While most Chinese Internet stocks sold off due to disappointing export data, E-House (EJ +3.3%) rallied on news its Leju online real estate ad/listing subsidiary has filed a draft F-1 with the SEC for an IPO.
  • Also helping: E-House announces Leju has formed a far-reaching partnership with Chinese messaging/gaming leader Tencent. The companies will "jointly develop software and tools" for Tencent's wildly popular WeChat (Weixin) mobile messaging platform, and will also "pursue additional opportunities for potential cooperation," including ones related to Tencent's massive QQ and Qzone platforms.
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