Atour Lifestyle Holdings Limited Prices IPO at $11.00-$13.00 Per Share (ATAT)

Atour Lifestyle Holdings Limited (ATAT) expects to raise $58 million in an IPO on the week of November 14th, IPO Scoop reports. The company will issue 4,800,000 shares at $11.00-$13.00 per share.

In the last twelve months, Atour Lifestyle Holdings Limited generated $337 million in revenue and $20.4 million in net income.

BofA Securities, Citigroup, CICC and CMB International acted as the underwriters for the IPO and Redbridge Securities LLC was co-manager.

Atour Lifestyle Holdings Limited provided the following description of their company for its IPO: “(Note: The American Depositary Shares (ADS) in this IPO will be issued by Atour Lifestyle Holdings Limited, the holding company incorporated in the Cayman Islands.) Setting out as an upper midscale hotel chain group, we are now a leading lifestyle brand in China. We are the largest upper midscale hotel chain in China in terms of room number as of the end of 2020, according to Frost & Sullivan. As of June 30, 2022, our hotel network covered 834 hotels spanning 151 cities in China, with a total of 96,969 hotel rooms, including 801 manachised hotels with a total of 91,911 manachised hotel rooms, in addition to a pipeline of 343 hotels with a total of 37,795 rooms under development. Our guests can book a stay with us and access our rich product and service offerings through offline and online channels, including our mobile app and Weixin/WeChat mini program. We built our A-Card loyalty program to enhance our engagement with guests and provide them with a unique and personalized experience. As of June 30, 2022, our A-Card loyalty program had amassed approximately 32 million registered individual members. In 2021, approximately 39.7% of our room-nights were sold to our A-Card members. In addition, we are the first hotel chain in China to develop a scenario-based retail business, according to Frost & Sullivan. We design our guest room amenities, work closely with manufacturers to deliver top-quality products, and carefully place the relevant products in guest rooms. Each of our guest rooms incorporates a fully immersive shopping destination, enabling us to further strengthen our brand elasticity with our guests. As of June 30, 2022, we had developed a total of 1,967 SKUs for scenario-based retail. The GMV generated from our retail business increased by 29.5% from RMB82.8 million in 2019 to RMB107.2 million in 2020, and further substantially by 112.9% to RMB228.2 million in 2021. The GMV generated from our retail business was RMB118.1 million in the six months ended June 30, 2022. In 2021, the average transaction value per scenario-based retail order reached RMB403.0. **Note: Revenue and net income figures are in U.S. dollars for the fiscal year ended Dec. 31, 2021. (Note: Atour Lifestyle Holdings Limited disclosed terms for its revived IPO in an F-1/A filing dated Nov. 7, 2022: 4.75 million American Depositary Shares (ADS) at $11.00 to $13.00 each. If priced at the $12.00 mid-point, the IPO would raise $57.0 million. This IPO is expected to price on Friday, Nov. 11, 2022, to trade Monday, Nov. 14, 2022. The company resurrected its IPO plans with an F-1/A filing dated Oct. 3, 2022, with no terms stated (blank filing) for an IPO with estimated proceeds of $100 million; the company removed FUTU as an underwriter and disclosed financial statements for the six months ending June 30, 2022. Previously: Atour Lifestyle Holdings Limited amended its IPO plans with an F-1/A filing dated June 21, 2022, in which no terms were stated (blank filing) for an IPO with estimated proceeds of $100 million; the company also removed Snowball Securities as an underwriter and disclosed financial statements for the year ending Dec. 31, 2021. The IPO’s previous terms were 19.74 million shares at $13.50 to $15.50 to raise $286.23 million, but the deal stalled in June 2021.) “.

Atour Lifestyle Holdings Limited was founded in 2012 and has 3180 employees. The company is located at 18th floor, Wuzhong Building, 618 Wuzhong Road, Minhang District, Shanghai, People’s Republic of China and can be reached via phone at (+86) 021-64059928 or on the web at https://www.yaduo.com/.

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