SouFun Announces ADS To Share Ratio Change
SouFun Holdings Limited (NYSE: SFUN, “ SouFun”), the leading real estate and home furnishing Internet portal in China, today announces that it will change the ratio of its American Depositary Receipts representing Class A ordinary shares from one (1) American depositary share (“ ADS”) for four (4) Class A ordinary shares to one (1) ADS for one (1) Class A ordinary share.
The record date for the ratio change is at the close of business on February 10, 2011 (U.S. EST). For SouFun's ADS holders, this ratio change will have the same effect as a 4-for-1 ADS split. There will be no change to SouFun's Class A ordinary shares. Furthermore, no action by ADS holders is required to effect the ratio change. The effect of the ratio change on the ADS trading price on New York Stock Exchange is expected to take place on February 18, 2011 (U.S. EST).
SouFun operates the leading real estate Internet portal and home furnishing and improvement website in China in terms of the number of page views and visitors to its website in 2010. SouFun had a 58.9% market share of the online real estate advertising market in China in Q4 2010 by estimated revenues. SouFun has built a large and active community of users who are attracted by the comprehensive real estate and home furnishing and improvement content available on its portal that forms the foundation of its service offerings. SouFun currently maintains 72 offices to focus on local market needs and its website and database contains real estate-related content coverage of 310 cities in China. For more information about SouFun, please visit http://ir.soufun.com.Safe Harbor Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995.
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