BitAuto Looking To Raise $102.6M In IPO

China's BitAuto Holdings, the owner of auto Web sites used by consumers and auto producers, said it hopes raise up to $102.6 million in an initial public offering next week when it sell 9 million American depositary receipts. Initial investors will sell another 1.6 million shares. BitAuto expects the offering to price betwenn $10-$12 a share. The company expects to raise $88 million in net proceeds. Citigroup C, Lazard LAZ, Oppenheimer and UBS UBS are the lead underwriters. ]BitAuto runs two websites in China that provide consumers pricing information, specifications and reviews on new and used cars, respectively, according to the Associated Press. BitAuto is not yet profitable and will trade on the NYSE under the ticker "BITA."