Published: November 02, 2010
Xueda Education Group Announces Pricing of Initial Public Offering on NYSE
BEIJING - (BUSINESS WIRE) - Xueda Education Group (NYSE: XUE) ("Xueda" or the "Company" ), the
leading national provider of tutoring services for primary and secondary
school students in China with a focus on offering personalized tutoring
services, today announced that it has priced its initial public offering
of 13,430,000 American depositary shares ("ADSs" ), each representing two
ordinary shares of the Company, at US$9.50 per ADS, with a total
offering size of US$127.6 million, assuming no exercise of the
over-allotment option. The ADSs are expected to begin trading on the New
York Stock Exchange on November 2, 2010 under the symbol "XUE."
All of the 13,430,000 ADSs were sold by the Company. The Company has
granted the underwriters a 30-day over-allotment option to purchase up
to an additional 2,014,500 ADSs.
Goldman Sachs (Asia) L.L.C. acted as the sole global coordinator and
sole book-runner, and Robert W. Baird & Co. Incorporated and William
Blair & Company, L.L.C. acted as co-managers, for the offering.
Xueda's registration statement relating to the initial public offering
has been 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 any securities, nor shall there be any
sale of these securities, in any state or other jurisdiction in which
such an offer, solicitation or sale would be unlawful under the
securities laws of any such state or jurisdiction.
The offering of the securities is made only by means of a prospectus
forming a part of the effective registration statement. A copy of the
prospectus relating to the offering may be obtained by contacting
Goldman Sachs at Goldman, Sachs & Co., Attention: Prospectus Department,
200 West Street, New York, NY 10282, telephone (212) 902-1171, or by
e-mailing Prospectus-NY@ny.email.gs.com.
About Xueda Education Group
Xueda Education Group (NYSE: XUE) ("Xueda" ) is the leading national
provider of tutoring services for primary and secondary school students
in China with a focus on offering personalized tutoring services.
According to IDC, Xueda is the largest provider of primary and secondary
school tutoring services in China in terms of revenue for the year of
2009, and operates the largest tutoring service network in terms of
number of cities covered as of June 30, 2010. Since opening its first
learning center in 2004, Xueda has organically built an extensive
tutoring service network comprised of 157 learning centers and over
8,800 full-time service professionals, serving customers located in 44
economically developed cities across 27 of China's 31 provinces and
municipalities as of June 30, 2010.
Xueda Education Group
CFO
Jeffery Gao,
+86-10-6427-8899 ext 6678
jefferygao@21edu.com
or
ICR
LLC.
Michael Tieu, +86-10-6583-7509
michael.tieu@icrinc.com
or
William
Zima, +1-203-682-8230
william.zima@icrinc.com
Copyright © 2012, Business Wire, Inc., All rights reserved.
Copyright © 2012, NewsBlaze,
Daily News
Search News
