Tarena International made its stock market debut on Nasdaq on Thursday, trading under the ticker symbol TEDU. The company closed the first trading day flat at $9.06 per share which is 0.67% above the starting price of $9.
Tarena had opened at $9.68 and peaked at $10.80 during the day. The company sold 15.3 million shares at $9 apiece, bringing in a total of around $138 million.
Of the 15.3 million American depository shares being offered, 11.5 million are being offered by Tarena International, while 3.8 million are being offered by the selling shareholders, bringing in about $107 million for Tarena. Each ADS represents one Class A ordinary share of the Company.
Tarena International is the largest provider of IT professional education services in China with a market share of 8.3% and is headquartered in Beijing. The platform currently offers nine courses with IT subjects and two with non-IT subjects. Courses can be accessed via an online learning platform and through a network of 92 learning centers in 33 cities throughout China.
Tarena’s proprietary learning management system TTS features course content, self-assessment exams, student and tutor interaction as well as student management tools and an online student community.
Since its inception in 2002, Tarena has trained over 130,000 students, cooperated with more than 500 universities and colleges and placed students with approximately 35,000 corporate employers in a variety of industries according to the press release.
Tarena plans to use the proceeds of the IPO for investing in course development, expanding its learning center network, sales and marketing activities, technology infrastructure and capital expenditures, upgrading facilities and other general and administrative matters.
US-based SaaS provider for higher education institutions 2U had its IPO on Friday last week, raising $104 million for the company.
- Tarena International, Inc. Announces Pricing of Initial Public Offering | GlobeNewswire
- IPO Report: Tarena International (TEDU) | equities.com
- HEDLINE: 2U IPO – Stock up 7.5 Percent on First Trading Day | EDUKWEST
Picture via NASDAQ