Autohome Seeks Hong Kong Listing At HK$251.8 Per Share

China’s online destination for automobile consumers, Autohome Inc (NYSE: ATHM), announced its Hong Kong public offering, which is a part of the global offering of 30.2 million shares. It aims to list shares on the Main Board of the Stock Exchange of Hong Kong Limited under the stock code “2518”.
The offering initially comprises 3 million shares under the Hong Kong public offering and 27.2 million shares (including 10 million sale shares) for the international offering representing 10% and 90% of the total share offering.
The Hong Kong offering could be priced at a maximum of up to HK$251.8 per share. No such limitation has been set for the international offering price, which is estimated to be priced by March 9.
The total number of shares available under the Hong Kong offering could be adjusted to up to a maximum of 15.1 million offer shares, representing 50% of the offer shares initially available under the offering.
Additionally, the company intends to grant the underwriters an over-allotment option to issue additional shares up to 4.5 million in the international offering, representing 15% of the total offer shares initially available under the offering.
The offering proceeds will be utilized to invest in technology and product development, nurture new businesses, boost the domestic and overseas presence, develop an automotive ecosystem, and general corporate purposes.
Price action: ATHM shares are trading lower by 5.17% at $111.90 on the last check Wednesday.