Bitauto Holdings Prices Follow-on Public Offering At $30 Per ADS - Quick Facts

(RTTNews) - Bitauto Holdings Limited (BITA), a provider of internet content and marketing services for China's automotive industry, announced the follow-on public offering of an aggregate of 2.75 million American Depositary Shares or "ADSs" by the Company and a selling shareholder was priced at $30.00 per ADS.

The company will be offering 1.26 million ADSs and the selling shareholder will be offering 1.48 million ADSs. Each ADS represents one ordinary share of the Company.

In connection with this offering, the company said it has granted the underwriters a 30-day overallotment option to purchase up to an aggregate of 410,800 additional ADSs from the Company at the public offering price of $30.00 per ADS.

The proceeds to the company, after deducting underwriting discounts and commissions, will be about $36.1 million or $47.9 million if the underwriters exercise their overallotment option in full.

The company said it will not receive any proceeds from the sale of the ADSs by the selling shareholder.