Autohome (ATHM) Stock Lower Today After Follow-On Public Offering

NEW YORK (TheStreet) -- Shares of Autohome (ATHM) are down 1.23% to $42.73 on heavy trading volume after the company announced pricing of $42.50 per ADS in a registered follow-on public offering.

The Chinese company, which delivers independent and interactive content to automobile buyers and owners, will issue and sell 1.65 million of its own ADS. The selling shareholders will sell an aggregate of 6.85 million ADS.

The gross proceeds to the company will be approximately $70.1 million, and the gross proceeds to the selling shareholders will be approximately $291.1 million.

Approximately 2.98 million shares have already changed hands compared to the average of 1 million by 1:51 p.m. in afternoon trading on Thursday.

ATHM Chart ATHM data by YCharts

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