chinese-online-education-provider-seeks-us-listing

Chinese online education provider seeks US listing

China Distance Education aims to raise up to $96 million and comes to market as two other US-listed Chinese education companies perform strongly.

By Anette Jönsson

July 16, 2008

China Distance Education Holdings CDEL will today start marketing in Hong Kong a US initial public offering that aims to raise between $78.75 million and $96.25 million. The company is looking to list on the New York Stock Exchange in the week of July 28.

If successful, it will be only the third Chinese company to complete an IPO in the US this year after fellow education play ATA and solar wafer manufacturer Renesola. However, it is likely to be followed before long by TV advertising agent China Mass Media International Advertising Corp, which filed for an IPO of up to $150 million last Friday.

Privately owned CDEL is the largest provider of online education...

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