Tarena International
TEDU, today announced that it has
priced its initial public offering of 15,300,000 American Depositary
Shares ("ADSs") at US$9.00 per ADS, for a total offering size of
US$137.7 million, assuming the underwriters do not exercise their
option to purchase additional ADSs. Each ADS represents one Class A
ordinary share of the Company. The Company's ADSs are expected to begin
trading on the NASDAQ Global Select Market on April 3, 2014 under the
ticker symbol "TEDU."
Of the 15,300,000 ADSs being offered, 11,500,000 ADSs are offered by
Tarena and 3,800,000 ADSs are being offered by the selling
shareholders. One of the selling shareholders has granted the
underwriters an over-allotment option to purchase up to 2,295,000
additional ADSs at the initial public offering price within 30 days
from the date of final prospectus.
Goldman Sachs (Asia) L.L.C. and Credit Suisse Securities (USA) LLC
acted as joint bookrunners, Jefferies LLC acted as the lead manager,
and Oppenheimer & Co. Inc. acted as the co-manager for the offering.
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