58.com Inc. (NYSE: WUBA) announced on April 2, 2020 that its Board of Directors has received a preliminary non-binding proposal letter dated April 2, 2020 from Ocean Link Partners Limited to acquire all of the outstanding ordinary shares of the Company, including Class A ordinary shares represented by American depositary shares for $27.5 in cash per Class A or Class B ordinary share, or $55.0 in cash per ADS. According to the Proposal Letter, the Proposing Buyer intends to fund the consideration payable in the Transaction primarily with equity capital from the Proposing Buyer and any additional members the Proposing Buyer accepts into a consortium of buyers, and possibly debt capital. The Board plans to evaluate the Proposed Transaction. The Board cautions the Company's shareholders and others considering trading the Company's securities that the Board has just received the proposal letter and has not had an opportunity to carefully review and evaluate the proposal or make any decision with respect to the Company's response to the proposal. There can be no assurance that any definitive offer will be made, that any definitive agreement will be executed relating to the proposed transaction or that this or any other transaction will be approved or consummated.