China Online Education Group Announces Exercise of Underwriters’ Over-Allotment Option

Jul 08, 2016 Blog 0

China Online Education Group (“51Talk” or the “Company”) (NYSE: COE), a leading online education platform in China with core expertise in English education, today announced that the underwriters of its initial public offering had exercised the option to purchase up to an additional 360,000 ADSs to cover over-allotments in full. Including the full exercise of the over-allotment and the private placements completed concurrently with the public offering, 51Talk offered a total of 57,189,473 Class A ordinary shares, which represents a total gross capital raise of approximately US$72.4 million.

The Company’s registration statement relating to the offering has been filed with, and declared effective by, the United States Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About China Online Education Group

China Online Education Group (NYSE: COE) is a leading online education platform in China, with core expertise in English education. The Company’s mission is to make quality education accessible and affordable. The Company’s online and mobile education platforms enable students across China to take live one-on-one interactive English lessons with overseas foreign teachers, on demand. The Company connects its students with a large pool of highly qualified foreign teachers that it assembled using a shared economy approach, and employs student and teacher feedback and data analytics to deliver a personalized learning experience to its students.

Source : prnewswire