58.com Gets Buyout Offer From Warburg Pincus

Binwei Wang
    Apr 30, 2020 1:00 PM  PT
58.com Gets Buyout Offer From Warburg Pincus
author: Binwei Wang   

58.com Inc. (NYSE: WUBA) announced Thursday that it has received a going-private offer from Warburg Pincus Asia LLC, General Atlantic Singapore Fund, Ocean Link Partners, and Jinbo Yao, its chairman and chief executive officer.

The Chinese marketplace for online classifieds said the group proposed to acquire all of its shares for $27.50 in cash per ordinary share, or $55 per ADS.

The announcement failed to significantly impress the investors and the stock in 58.com closed 15 cents higher on Thursday, at $51.95 per ADS.

58.com will evaluate the offer.