Autohome ADRs surge in trading debut



Estimated read time: Less than a minute

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

(AP) - Shares of Chinese automotive information provider Autohome are surging in their trading debut.

The American depositary shares are up $11.60, or 68 percent, to $28.60 in morning trading after climbing as high as $31.37 shortly after they hit the market.

Late Tuesday, the company priced its initial public offering of 7.8 million American depositary shares at $17 each, above their projected range, for total proceeds of $132.9 million.

The offering's underwriters also have a 30-day option to buy up to 1.2 additional American depositary shares at the IPO price for additional proceeds of $19.9 million.

Autohome provides online information, listings and reviews for Chinese automotive consumers through a pair of websites. The shares are trading on the New York Stock Exchange under the ticker symbol "ATHM."

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Most recent Business & Tech stories

Related topics

Business & Tech
The Associated Press

    SIGN UP FOR THE KSL.COM NEWSLETTER

    Catch up on the top news and features from KSL.com, sent weekly.
    By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Policy.

    KSL Weather Forecast