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AutoNavi Holdings Limited Announces Closing Of Initial Public Offering And Underwriters' Exercise Of Option To Purchase Additional ADSs

BEIJING, July 8, 2010 (GLOBE NEWSWIRE) -- AutoNavi Holdings Limited ("AutoNavi" or the "Company") (Nasdaq:AMAP), a leading provider of digital map content and navigation and location-based solutions in China, today announced the closing of its initial public offering of 9,918,750 American depositary shares (''ADSs''), each representing four ordinary shares of the Company, at the public offering price of $12.50 per ADS. The offering included 1,293,750 ADSs sold by the Company pursuant to the underwriters' option to purchase additional ADSs, which was exercised in full. The Company sold a total of 8,793,750 ADSs, and the selling shareholders sold a total of 1,125,000 ADSs in the offering.

Goldman Sachs (Asia) L.L.C. acted as sole bookrunner, and Oppenheimer & Co. Inc. and Pacific Crest Securities LLC acted as co-managers for the offering.

AutoNavi's registration statement relating to these securities has been declared effective by the United States Securities and Exchange Commission. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

A copy of the prospectus relating to the offering may be obtained by contacting Goldman, Sachs & Co., 200 West Street, New York, NY 10282. Attention: Prospectus Department (+1 212-902-1171).

About AutoNavi Holdings Limited

AutoNavi Holdings Limited (Nasdaq:AMAP) is a leading provider of digital map content and navigation and location-based solutions in China. At the core of its business is a comprehensive nationwide digital map database that covers approximately 2.8 million kilometers of roadway and over 12.5 million points of interest across China. Through its digital map database and proprietary technology platform, AutoNavi provides comprehensive, integrated navigation and location-based solutions optimized for the Chinese market and users, including automotive navigation solutions, public sector and enterprise applications, wireless location-based solutions and Internet location-based solutions. For more information on AutoNavi, please visit http://www.autonavi.com .

The AutoNavi Holdings Limited logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7693  

For investor and media inquiries please contact:
 
In China:
 
Serena Shi
AutoNavi Holdings Limited
Tel: +86-10-5985-9538
Email: serena.shi@autonavi.com
 
Flora Tian
Ogilvy Financial, Beijing
Tel: +86-10-8520-6524
Email: amap@ogilvy.com
 
In the U.S.:
 
Jessica Barist Cohen
Ogilvy Financial, New York
Phone: +1-646-460-9989
E-mail: jessica.cohen@ogilvypr.com

AutoNavi Holdings Limited Logo

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