Tencent invests $1 billion in Chinese real-estate brokerage Lianjia


One of China’s largest real-estate brokerages is planning to raise about $2 billion from investors including Tencent Holdings Ltd. and private-equity firm Warburg Pincus LLC, according to people familiar with the matter.

The private fundraising round is likely to value the Beijing-based company known as Lianjia at about $13 billion, the people said.

Lianjia, whose formal name is Homelink Real Estate Agency Co., was founded in 2001 and has scores of brick-and-mortar branches in Beijing, Shanghai and other Chinese cities. The company also has a website and mobile app that lets Chinese home buyers and renters search listings of new and secondhand properties. Besides facilitating sale and rental transactions, Lianjia offers services such as real-estate financing, home décor and property management.

Chinese internet giant Tencent

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  is investing $1 billion in Lianjia’s latest financing round, while U.S. private-equity firm Warburg Pincus is putting in $500 million, according to some of the people.

An expanded version of this report appears on WSJ.com.

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Source : MTV