SouFun Announces ADS to Share Ratio Change
BEIJING, Feb 04, 2011 (BUSINESS WIRE) --
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.
These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "may," "should" and similar expressions. Such forward-looking statements include, without limitation, statements regarding the outlook for the fiscal year of 2010 and comments by management in this release and SouFun's strategic and operational plans and future market positions. SouFun may also make forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about SouFun's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, SouFun's limited operating history, the current global financial and credit markets crisis and its potential impact on the Chinese economy, measures taken or to be taken by the Chinese government to control real estate growth and prices and other events which could recur in the future, the uncertain regulatory landscape in China, fluctuations in SouFun's quarterly operating results, its reliance on online advertising sales and listing services for its revenues, any failure to successfully develop and expand its content, service offerings and features, and the technologies that support them, and any failure to successfully integrate acquired businesses.
Further information regarding these and other risks and uncertainties is included in SouFun's prospectus dated September 16, 2010 and its other filings with the U.S. Securities and Exchange Commission. SouFun does not assume any obligation to update any forward-looking statements in this release and elsewhere, which apply only as of the date of this press release.
SOURCE: SouFun Holdings Limited
For investor and media inquiries:
SouFun Holdings Limited
Jill Jiao, +86 (10) 5930 6668
Investor Relations Director