(Yicai Global) Sept. 16 -- The stock price of Bitauto Holdings rose after the Chinese car site said that Tencent Holdings and Hammer Capital Opportunities Fund have made a buyout offer with a 16 percent premium.

Bitauto's [NYSE: BITA] stock price rose 8.7 percent to USD14.95 on Sept. 13. The shares closed at USD13.76 on Sept. 12.

Tencent and Hammer Capital will offer USD16 per each American Depositary Share, a unit of the Beijing-based target firm said in a statement on Sept. 13.

Bitauto's largest shareholder JD.Com, which has a 25.1 percent stake, has agreed on the deal. Bitauto's founder and chairman Li Bin, who is also the founder of electric vehicle firm Nio, is the third-largest shareholder of Bitauto with an 11 percent stake. Tencent is sixth with a 7.8 percent stake.

In the second quarter, Bitauto posted CNY2.8 billion (USD393 million) in revenue, up 8.9 percent from a year earlier, its financial report shows. Its net loss was CNY136.2 million (USD19.2 million) after logging CNY27.4 million in net profit during the same period last year. 

Editor: Emmi Laine