HTHT - H World Group shares slide on announcing $260M offering of ADS's
- H World Group ( NASDAQ: HTHT ) is down 2.05% premarket after it has commenced an underwritten public offering of $260M of American depositary shares of the company, each representing ten ordinary shares of the company.
- All ADSs will be offered by the company.
- Underwriters are expected to have a 30-day option to purchase up to $39M of additional ADSs from the company.
- Net proceeds from the offering will be used to fund its growth strategies amid post-COVID reopening; to invest in initiatives that support its long term success; and for working capital and general corporate purposes.
- Offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed.
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H World Group shares slide on announcing $260M offering of ADS's