E-HOUSE (China) Holdings Ltd, the largest integrated real estate service provider in China, has raised 201.5 million yuan (US$26.17 million) in an initial public offering in the United States by selling 14.6 million American depositary receipts.

The Shanghai-based company, which went public on the New York Stock Exchange on Wednesday, sold its ADRs at US$13.8 apiece, Xinhua news agency reported. Proceeds from the IPO will be used to extend the company's network, upgrade its information system, increase sales and marketing efforts and fund other corporate development activities, the company said earlier.

Established in 2000, E-House now operates in 20 cities across the country, mainly offering estate brokerage and consulting services.

E-House shares closed at US$19.43 yuan on their first trading day, a jump of 40.8 percent from the offering price.