Latham & Watkins Advises on H World Group’s US$300 Million Follow-On Offering

Latham & Watkins advised Goldman Sachs and UBS Investment Bank as the underwriters on the public offering of 7,118,500 American Depositary Shares (ADS) listed on the NASDAQ on January 10, 2023 of H World Group Limited (the company), a leading multi-brand hotel group in China. Each ADS represents ten ordinary shares, at a price of US$42.0 per ADS. The offering raised total gross proceeds of nearly US$300 million.

The offering aims to support the growth and long-term success of the company, including by investing in the company’s technology infrastructure; supply chain ecosystem; distribution system; and environment, social and governance (ESG) efforts.

Latham previously advised on the company’s US$500 million convertible bond issuance in 2020 and US$475 million convertible senior notes issuance in 2017.

The Latham team was led by Hong Kong partners Allen Wang and Posit Laohaphan, with partner Dominik Sklenar, and counsel Wei Wei and Eric Yiu.