Skadden Arps Slate Meagher & Flom and O'Melveny & Myers are advising on the US initial public offering (IPO) of China's version of Craigslist, 58.com.

The online marketplace  – which lists jobs, housing and used goods – is hoping to raise up to $165m (£102m) with the sale of 11 million shares each priced $13-$15 (£8-£9.30) on the New York Stock Exchange.

Skadden  is acting for the issuer, with Hong Kong-based corporate partner Julie Gao leading the US firm's team. She has previously advised a string of other Chinese internet companies on their listings, including those of Baidu, Renren and 21Vianet Group.

O'Melveny is advising the underwriters, which include Morgan Stanley, Credit Suisse and Citi. Beijing corporate partner David Roberts is leading the firm's team.

The deal is thought to be just the second US listing by a Chinese company this year, with the appetite for American IPOs by Chinese companies having waned in the face of lower equity market valuations in the US and a spate of fraud allegations against PRC companies.

58.com is a Beijing-headquartered company targeting Chinese consumers and businesses across 380 cities. It plans to use the proceeds for general corporate purposes such as product development and marketing, and potentially for the acquisition of new businesses.

It is one of several internet companies in the country looking to grow as the online market – in particular the mobile internet market – continues to gain popularity in the world's second largest economy.

As well as a listings site, 58.com also works as an internet marketing channel. In the second quarter of this year it had approximately 4.3 million active local businesses using the site. In the six months ending 30 June, it recorded revenues of $58.8m (£36.4m).