Simpson Thacher Represents Underwriters in HK$5.34 Billion Hong Kong Secondary Listing of Autohome
03.15.21
This is only gets display when printing
Simpson Thacher represented the underwriters in the global offering and secondary listing of the ordinary shares of Autohome Inc. (“Autohome”) (NYSE: ATHM) (HKSE: 2518) on the Main Board of The Stock Exchange of Hong Kong Limited (the “SEHK”). Autohome offered an aggregate of 30,291,200 ordinary shares under the “Chapter 19C regime” introduced by the SEHK to attract listings by high profile issuers that are already listed on the U.S. and London stock exchanges. In conjunction with the Hong Kong listing, Autohome also conducted a global offering of new Hong Kong-listed ordinary shares, which will be fully fungible with the ADSs which are listed and traded on the New York Stock Exchange. The base offering size was HK$5.34 billion (approximately US$684.66 million) before exercise of the underwriters’ overallotment option. CICC, Goldman Sachs and Credit Suisse acted as joint sponsors, joint global coordinators, joint bookrunners and joint lead managers for the offering.
Autohome is a leading online destination for automobile consumers in China, ranking first among automotive service platforms in terms of mobile daily active users as of December 31, 2020. Through its two websites, autohome.com.cn and che168.com (accessible through PCs, mobile devices, mobile applications and mini apps), Autohome delivers comprehensive, independent and interactive content and tools to automobile consumers as well as a full suite of services to automakers and dealers across the auto value chain.
The Simpson Thacher team for the transaction included Christopher Wong, Yi Gao, Cherrie Zhang and Christy Li (Capital Markets); Sophie Staples and Gal Shemer (Tax); and Jennie Getsin (FINRA).