Tiger Global Discloses New Bitauto Stake, Boosts Autohome Position ~ market folly

Monday, September 15, 2014

Tiger Global Discloses New Bitauto Stake, Boosts Autohome Position

Chase Coleman and Feroz Dewan's hedge fund Tiger Global recently filed two separate 13G's with the SEC. 

New Bitauto Stake (BITA)

First, they disclose a new position in Bitauto (BITA).  Per the 13G filing, they now own 14.9% of the company with over 6.56 million ADR shares. 

The filing was required due to activity on September 3rd.  They had previously been involved in shares but SEC filings indicate they sold out of the position in the first quarter of this year.  But now they've jumped back in.

Per Google Finance, Bitauto is "a provider of Internet content and marketing services. The Company’s bitauto.com and taoche.com websites provide consumers with up-to-date new and used automobile pricing information, specifications, reviews and consumer feedback."

Increases Autohome Stake (ATHM)

Second, Tiger Global has revealed they've increased their position in Autohome (ATHM).  Per the filing, they now own 18.5% of the company with 6.735 million shares.  The filing was made due to activity on September 2nd.  At the end of the second quarter, they only owned 290,873 shares.

Tiger Global isn't the only other major hedge fund involved here.  Earlier in the year, we highlighted how Tybourne Capital has a large Autohome stake as well.  Tybourne was founded by Eashwar Krishnan, previously of Lone Pine Capital.

Per Google Finance, Autohome is "an online destination for automobile consumers in China. Through its two Websites, autohome.com.cn and che168.com, it delivers independent and interactive content to automobile buyers and owners. Content it provides to its users include professionally produced content, user generated content, automobile library and automobile listing information. It has an editorial team focusing on serving consumers throughout the automobile ownership lifecycle. It conducts independent and professional evaluations of vehicle models from its users’ perspective."

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