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Atour Lifestyle falls 4% on 4.8M ADSs offering

Atour Lifestyle (NASDAQ:ATAT) proposes an underwritten offering by entities affiliated with Legend Capital of ADSs, each ADS representing three Class A ordinary shares.

Legend Capital proposes to offer an aggregate of 4.8M ADSs.

Underwriters have a 30-day option to purchase up to 720K additional ADSs from Legend Capital.

The company will not receive any proceeds from the sale of the ADSs by Legend Capital.

The stock price is down 4% 

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