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Autohome misses Hong Kong share sale target by nearly one-third

Baidu and others from China face risk of lower prices on secondary listings

Autohome's lackluster listing in Hong Kong is unwelcome news for other companies planning to list their shares on the bourse.   © Reuters

HONG KONG -- Chinese car sales website Autohome has raised $688 million through a secondary listing in Hong Kong, as the global equity market turmoil left the company with almost one-third less than expected when it opened the offering, two people familiar with the transaction say.

The market volatility could dampen sentiment for a slew of companies, including search giant Baidu, waiting to list in Hong Kong, those sources said.

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