The two Australian businessmen who set up Juwai.com, China's largest international property website, have sold their stake in the website, ahead of its listing on the stock market later this year.
Queenslanders Andrew Taylor and Simon Henry, declined to comment on how much they received for their 20 per cent stake in the business, but the Australian Financial Review reports the deal valued the company at about $50 million and the shares were sold to existing investors.
Juwai plans to list on the Australian Stock Exchange later this year.
"We are incredibly happy with the exit," said Mr Henry, adding they would stay in Shanghai for the foreseeable future.
Both Taylor and Henry have been partners for two decades and both worked together at LJ Hooker and the REA Group.