SHANGHAI, China, Mar 26, 2010 (GlobeNewswire via COMTEX News Network) -- China Lodging Group, Limited (Nasdaq:HTHT) ("HanTing Inns and Hotels" or the "Company"), a leading economy hotel chain operator in China, today announced that its initial public offering of 9,000,000 American Depository Shares ("ADSs"), each representing 4 ordinary shares, was priced at an initial public offering price of US $12.25 per ADS. The ADSs will begin trading on the NASDAQ Stock Exchange on March 26, 2010.
All of the 9,000,000 ADSs are being offered by the Company. The underwriters have been granted an over-allotment option, exercisable within 30 days of the pricing date, to purchase up to 1,350,000 ADSs from the Company.
Goldman Sachs and Morgan Stanley are the joint book runners of the offering. Oppenheimer & Co. Inc. is the co-manager of the offering.
The Company's registration statement relating to these securities has been declared effective by the United States Securities and Exchange Commission. This press release shall 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 the registration or qualification under the securities laws of such state or jurisdiction.
The offering of the securities is made only by means of a prospectus forming a part of the effective registration statement. A copy of the prospectus relating to the offering may be obtained by contacting Goldman Sachs at Goldman, Sachs & Co., Attention: Prospectus Department, 85 Broad Street, New York, NY 10004, telephone (866) 471-2526, or by e-mailing Prospectus-NY@ny.email.gs.com or by contacting Morgan Stanley & Co. Incorporated, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York, 10014, telephone (866) 718-1649, or by e-mailing email@example.com.
About China Lodging Group, Limited
China Lodging Group, Limited ("HanTing Inns and Hotels" or the "Company") is a leading economy hotel chain operator in China. The Company provides business and leisure travelers with high-quality, and conveniently-located hotel products under three brands, namely, HanTing Seasons Hotel, HanTing Express Hotel, and HanTing Hi Inn. As of December 31, 2009, the Company had 236 hotels and 28,360 rooms in 39 cities across China.
Safe Harbor Statement
This press release contains statements that may constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties that could cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Further information regarding these and other risks is included in China Lodging Group, Limited's filings with the U.S. Securities and Exchange Commission, including its registration statement on Form F-1, as amended from time to time. China Lodging Group, Limited does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
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SOURCE: China Lodging Group, Limited
CONTACT: China Lodging Group, Limited Ida Yu, Investor Relations Manager 86 (21) 5153 9463 firstname.lastname@example.org http://ir.htinns.com
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