Homelink said to be seeking funds

Beijing Homelink Real Estate Brokerage Co is seeking to raise funds in a financing round that will give the property company a valuation of about 40 billion yuan ($6.2 billion), according to industry sources.

The firm, which focuses on rental and secondhand real estate transactions, is raising about $1 billion and has attracted funding from Chinese Internet giants including Tencent Holdings Ltd and Baidu Inc, said the sources.

Homelink, which opened its first physical store in Beijing in 2001, had expanded to 5,000 outlets across 24 cities in the country by October.