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WUBA - 58.Com: Valuation Undemanding Though Limited Upside As The Stock Trades Near The Buyout Price
58.com Inc. American Depositary Shares each representing 2 Class A
Buyout quick take
58.com (WUBA) is China's largest online classifieds marketplace and has recently entered a definitive agreement for a going-private transaction which will value the shares at $56 per ADS. The transaction implies an equity value of approximately US$8.7B for the company which will be acquired by a consortium of investors, including Warburg Pincus Asia LLC, General Atlantic Singapore Fund Pte. Ltd., and Ocean Link Partners Limited.
The stock has been trading closer to its proposed buyout price which is expected to close sometime in 2H20e. There is a slight possibility that