H World Group Raises $260M Via Equity Offering

H World Group Ltd HTHT has commenced an underwritten public offering of $260 million of American depositary shares (ADS). All ADSs will be offered by the company.
The underwriters are expected to have a 30-day option to purchase up to $39 million of additional ADSs from the company.
H World plans to use the net proceeds from the offering to fund its growth strategies amid post-COVID reopening, invest in initiatives that support its long-term success and for working capital.
Goldman Sachs (Asia) L.L.C. and UBS Securities LLC are acting as joint underwriters for the offering.
Price Action: HTHT shares are trading lower by 3.45% at $42.29 in premarket on the last check Tuesday.