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24.83
0.68%
-0.17
Why is Atour Lifestyle Holdings Ltd Adr (ATAT) Stock down?
We've noticed a 5.68% decline in Atour Lifestyle Holdings Ltd Adr (ATAT) stock during the 2024-11-19 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
04 Dec, 2023:
Shares of Atour Lifestyle Holdings Ltd ADR (ATAT) dropped by 6.28% from $18.01 to $16.87 in the trading on Monday, December 04, 2023. The reason why ATAT is down today is due to announcement of a proposed registered underwritten offering by entities affiliated with Legend Capital.
- Details of the Offering: Legend Capital, an entity affiliated with ATAT, disclosed its intention to initiate a registered underwritten offering involving American depositary shares (ADSs). Each ADS represents three Class A ordinary shares of par value $0.0001 each of the Company. The proposed offering, known as the "Secondary Offering," aims to involve an aggregate of 8,000,000 ADSs.
- Underwriters' Option: In addition to the initial offering, the underwriters in the proposed Secondary Offering will have a 30-day option to purchase up to 1,200,000 additional ADSs from Legend Capital. The announcement raised concerns among investors, as they are cautious that this offering might dilute the shares' earnings.
4.57%
0.56%
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