Market Overview

Tarena International Prices 15.3M ADS Offering at $9.00/ADS

Tarena International (Nasdaq: 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.

Posted-In: News IPOs

 

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