IFM Investments Limited, which is the exclusive franchisor for the CENTURY 21 brand in China , plans to raise as much as US$160 million by offering 16.65 million American Depositary Shares on the New York Stock Exchange, sources reported.

The company, which will debut on the bourse under the symbol "CTC", plans to sell the shares at prices between US$8.75 and US$10.75 apiece, according to a filling with the U.S. Securities and Exchange Commission.

Reportedly, Goldman Sachs, Morgan Stanley and William Blair were the joint underwriters for the IPO.

IMF Investments is a comprehensive real estate services provider with the largest network of property sales offices in China. It has a special focus on China's fast-growing and highly fragmented secondary real estate market, providing company-owned brokerage services, franchise services and mortgage management services, according the firm's website.