Stock Alert: IClick Interactive Drops 9%

(RTTNews) - Shares of Chinese online marketing and enterprise data solutions provider iClick Interactive Asia Group Limited (ICLK) are falling more than 9% Wednesday morning at $9.13. It has traded in the range of $2.80- $10.22 in the last one year.

Tuesday iClick announced the commencement of a follow-on offering of up to 7,922,787 American depositary shares, with two ADSs representing one Class A ordinary share of the Company, par value US$0.001 per share.

Of the ADSs on offer, up to 6,300,000 ADSs are being offered by iClick, and up to 1,622,787 ADSs are offered by a shareholder, Sumitomo Corporation Equity Asia Limited.