HONG KONG, November 13, 2022 – (ACN Newswire) – On the evening of November 11, Beijing time, Legend Capital’s portfolio company, Atour Lifestyle Holdings Limited (“Atour”), was officially listed on the Nasdaq Stock Exchange in the United States . The price for its initial public offering of 4,750,000 American Depositary Shares (“ADSs”) is US$11.0 per ADS.
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Founded in 2013, Atour is a leading hospitality and lifestyle company in China with a distinct portfolio of lifestyle hotel brands such as AT HOUSE, Atour S, ZHOTEL, Atour Hotel, Atour X and Atour Light, as well as scenario-based retail brands, including Atour Market. It has further divided its own brands into three product lines – aTOUR PLANET, SAVHE and Z2GO&CO. As of June 30, 2022, Atour has launched a total of 1,967 SKUs, of which 62.8% are private label products.
According to the prospectus, Atour has opened 880 hotels as of September 30, 2022, up 26% year-on-year. According to Frost & Sullivan, Atour is the largest upper-middle-range hotel chain with a diversified brand portfolio in China in terms of room count for five consecutive years (as of the end of 2021).
As a key institutional investor and close partner of Atour, Legend Capital led the investment in Atour in 2016 and made further investments in Atour’s subsequent funding rounds in 2017 and 2021. After the investment, Legend Capital has continuously supported Atour’s development through delivery several value-added services in…
