Chinese budget hotel chain Home Inns & Hotels announced that its initial public offering of 7,900,000 American Depositary Shares, each representing two ordinary shares, was priced at US$13.80 per ADS.

The ADSs begin trading on the Nasdaq Global Market on October 26, 2006 under the symbol "HMIN".

Of the 7,900,000 ADSs sold in the offering, 4,885,827 ADSs were sold by Home Inns, and 3,014,173 ADSs were sold by certain shareholders. Home Inns and the selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 1,185,000 ADSs to cover over-allotments.

Credit Suisse Securities (USA) LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as joint book runners, and Deutsche Bank Securities Inc. acted as a co-manager for the offering.