Today’s IPO for Atour Lifestyle Holdings Limited (ATAT) opened for trading at $15.50 after pricing 4,750,000 American Depositary Shares (ADSs) at $11 per ADS.
BofA Securities, Inc., Citigroup Global Markets Inc., China International Capital Corporation Hong Kong Securities Limited and CMB International Capital Limited are acting as underwriters for the offering. Redbridge Securities LLC and Tiger Brokers (NZ) Limited are acting as co-managers for the offering.
Atour Lifestyle Holdings Limited is a leading hospitality and lifestyle company in China, with a distinct portfolio of lifestyle hotel brands. According to Frost & Sullivan, Atour is the largest upper midscale hotel chain in China in terms of room numbers as of the end of 2021, and is the first Chinese hotel chain to develop a scenario-based retail business. Atour is committed to bringing innovations to China’s hospitality industry and building new lifestyle brands around hotel offerings.
Story Credit: investing.com