H World Group Limited Announces Proposed Public Offering of American Depositary Shares
January 10 2023 - 6:19AM
H World Group Limited (NASDAQ: HTHT and HKEX: 1179) (“H World” or
the “Company”), a key player in the global hotel industry, today
announced that it has commenced an underwritten public offering
(the “Offering”) of US$260 million of American depositary shares of
the Company (“ADSs”) in the United States, each representing ten
ordinary shares of the Company. All ADSs will be offered by the
Company. The underwriters are expected to have a 30-day option to
purchase up to US$39 million of additional ADSs from the Company.
The Company plans to use the net proceeds from the Offering (i)
to fund its growth strategies amid post-COVID reopening, including
enhancing the competitiveness of its hotel portfolio and developing
its regional-based operating paradigm; (ii) to invest in
initiatives that support its long term success, including its
technology infrastructure, supply chain ecosystem, distribution
system that connects both individual guests and corporate clients,
and environment, social and governance (ESG) efforts; and (iii) for
working capital and general corporate purposes.
Goldman Sachs (Asia) L.L.C. and UBS Securities LLC are acting as
joint underwriters for the Offering. The Offering is subject to
market and other conditions, and there can be no assurance as to
whether or when the Offering may be completed.
The ADSs will be offered under the Company’s shelf registration
statement on Form F-3ASR, which was filed with the U.S. Securities
and Exchange Commission (the “SEC”) and became automatically
effective on January 10, 2023, and a preliminary prospectus
supplement to be filed with the SEC on the same date. The
registration statement on Form F-3ASR is, and the preliminary
prospectus supplement will be, available at the SEC’s website at:
http://www.sec.gov. Copies of the preliminary prospectus supplement
and the accompanying prospectus may be obtained from: (i) Goldman
Sachs & Co. LLC, Attention: Prospectus Department, 200 West
Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile:
212-902-9316 or by emailing Prospectus-ny@ny.email.gs.com; and (ii)
UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue
of the Americas, New York, NY 10019, U.S.A., by calling
1-888-827-7275 or by email at ol-prospectus-request@ubs.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy ADSs or any other securities, nor
shall there be any sale of ADSs or any other securities in any
state or jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
Safe Harbor Statement Under the U.S. Private Securities
Litigation Reform Act of 1995: The information in this release
contains forward-looking statements which involve risks and
uncertainties. Such factors and risks include our anticipated
growth strategies; our future results of operations and financial
condition; economic conditions; the regulatory environment; our
ability to attract and retain customers and leverage our brands;
trends and competition in the lodging industry; the expected growth
of demand for lodging; and other factors and risks detailed in our
filings with the SEC. Any statements contained herein that are not
statements of historical fact may be deemed to be forward-looking
statements, which may be identified by terminology such as “may,”
“should,” “will,” “expect,” “plan,” “intend,” “anticipate,”
“believe,” “estimate,” “predict,” “potential,” “forecast,”
“project” or “continue,” the negative of such terms or other
comparable terminology. Readers should not rely on forward-looking
statements as predictions of future events or results.
H World undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, unless required by applicable law.
Contact InformationInvestor RelationsTel: 86 (21) 6195
9561Email: ir@hworld.comhttp://ir.hworld.com
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