Easy car net receives 58.5 million US dollar investment shares: Friday stock price rose 17%

Easy Car Network Friday stock price trend Sina Science and technology news Beijing time November 3, Easy Car Network (Nyse:bita) announced in Friday, has been from the United States, the largest car website operator AutoTrader to obtain strategic investment, the latter will be 58.5 million U.S. dollars to buy its 21.8% stake, Transactions are carried out through a closed market. Citi then rated "buy" on the stock of easy cars. Affected by this message, easy car network Rose 17.2%. At the same time as the AutoTrader Group signed the final Equity acquisition agreement, the senior management members of the company, including chairman and CEO Li Bin, President Shaojingning, CFO Zhang Xian, and senior vice President Guo Weihai also concluded another equity takeover agreement with other listed shareholders. Under the agreement, the senior management members of the vehicle will buy about 2.4% of the convertible's shares at a total price of USD 6.5 million. The senior management will complete the equity acquisition deal with the four-year loan provided by AutoTrader Group. According to the transaction procedure, the above equity purchase transaction is expected to be completed in November 2012. Lavis Sarat Ravi Sarathy, Citigroup analyst, points out that the growth momentum of the easy-car network comes mainly from the growth of car sales and the advertising budget moving from offline to offline. Zarate reiterated that the stock rating of the Easy Car network as a "buy" because the company occupies a market-leading position, he also pointed out that the easy car network is expected to become "China's auto industry emerging salesforce.com." According to the expected earnings per share in 2013, the stock has a price-to-earnings ratio of 7 times times, with a composite annual growth rate of 30% over the next five years, representing ' deep value '. On the same day, the easy Car network in the NYSE rose 0.86 U.S. dollars, closed at 5.86 U.S. dollars, up to 17.2%, the top of the plate up to 5.94 U.S. dollars to touch the highest price of 52 weeks. In the past 52 weeks, the top price of the net was 5.97 U.S. dollars, with a minimum price of $3.50. (Feiyu)