China's iClick dives on planned share offering

Amber International Holding

02/09/2020 18:44

** iClick Interactive Asia Group  ICLK.O  shares down 15.6%
to $8.47 as online marketing provider looks to price follow-on
Weds AMC
    ** ICLK shares tracking biggest one-day % drop since their
Dec 2017 U.S. debut
    ** Hong Kong-based firm late Tues launched offering of 7.9
mln American depositary shares (ADSs)  urn:newsml:reuters.com:*:nPn2myJ8Wa
    ** Co selling 6.3 mln ADSs, balance being offered by
Sumitomo Corporation Equity Asia
    ** ICLK to use net offering proceeds for R&D, investment and
acquisitions, and for working capital
    ** BofA, China Renaissance, ICBC International and Alliance
Global Partners acting as bookrunners
    ** Offering represents ~10% of ADSs outstanding, per
Refinitiv data
    ** Including Weds move, ICLK up 163% YTD and trading just
above $8 IPO price

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 646-223-5017))