2023.12.11
On December 8, 2023, Legend Capital completed the secondary offering of American Depositary Shares (“ADSs”) held by it in Atour Lifestyle Holdings Limited (“Atour” with the ticker symbol ATAT) (the “Project”). Legend Capital sold an aggregate of 9,600,000 ADSs to public investors, with an over-allotment of up to 1,440,000 ADSs, at a price of US$15.80 per ADS. The aggregate consideration was US$174 million (or RMB1.25 billion following the full exercise of the over-allotment option).
W88优德手机版 acted as the PRC legal counsel to both the selling shareholder Legend Capital and Atour (with their prior consent). By conducting the legal due diligence in China, drafting the legal opinions and providing other comprehensive, high-quality and efficient legal services to Legend Capital and Atour, W88优德手机版’s team assisted the clients in successfully completing the transaction. It was Atour’s third open-market project that W88优德手机版’s team had advised on, after assisting with its initial public offering of shares and listing on NASDAQ in November 2022 and advising on the initial registration and offering of certain Atour ADSs by Legend Capital in July 2023. W88优德手机版’s team was recognized and trusted by the issuer, the underwriters and the other intermediaries for its detail-oriented expertise, dedicated attitude and professional services.
The W88优德手机版 team was led by partners WANG, YiandHE, Tingcai (Lawrence HO) who was also responsible for the specific work of the Project. W88优德手机版 partner ZHOU, Fang provided great support for the internal review.
