On June 13, 2024, Legend Capital successfully completed the secondary offering of American depositary shares (ADSs) held by it in Atour Lifestyle Holdings Limited (stock code: ATAT, "Atour"). Legend Capital sold 10,000,000 ADSs at US$16.90 per share. The total consideration was approximately US$194 million (after the full exercise of the over-allotment options, it was approximately RMB 1.38 billion).
JunHe was the PRC legal counsel to both the selling shareholder Legend Capital and Atour and participated in the full process of this deal. JunHe undertook PRC legal due diligence, drafted legal opinions and provided comprehensive, high-quality and efficient legal services for Legend Capital. JunHe has assisted Atour previously: in their initial public offering (IPO) on the NASDAQ in November 2022, the initial registration and trading of ADSs held by Legend Capital in Atour in July 2023, and the secondary offering of ADSs held by Legend Capital in Atour in December 2023. JunHe's team assisted Legend Capital in completing the secondary offering of over US$ 450 million of ADSs in aggregate after Atour's IPO. The deal team’s meticulous and dedicated service attitude and professional capabilities has won the recognition and trust of the issuer, the underwriters and other intermediaries.
Partners WANG, Yi and HE, Tingcai (Lawrence HO) led JunHe’s team for this deal and partner HE, Tingcai (Lawrence HO) primarily undertook the work.