ADRs End Lower; VNET, Oatly Trade Actively

By Kathryn Hardison

International stocks trading in New York closed lower Tuesday.

The S&P/BNY Mellon index of American depositary receipts fell 3.3% to 132.01. The European index decreased 3.1% to 123.77, the Asian index fell 3.6% to 158.83, the Latin American index dropped 3.7% to 184.29 and the emerging markets index decreased 3.7% to 276.07.

VNET Group Inc. and Oatly Group AB were among the companies with ADRs that traded actively.

ADRs of VNET climbed 21% after it received a preliminary non-binding proposal from company founder Josh Sheng Chen to acquire all of its outstanding ordinary shares for US$8.20 in cash per American depositary share, or approximately US$1.3667 per ordinary share. VNET said it formed a special committee to consider the offer, as well as other potential alternatives.

ADRs of Oatly fell 7.3% after Credit Suisse downgraded the maker of oat-based milk to neutral ahead of what is expected to be a risky consumer environment in Europe and Asia in the coming months.

ADRs of Honda Motor Co. Ltd. fell 3.4% after the company said it is considering a separate stock-market listing for its electric two-wheeler business.

Write to Kathryn Hardison at [e-mail]

(END) Dow Jones Newswires

09-13-22 1651ET