RISE Education Announces Pricing of Follow-on Public Offering of American Depositary Shares
RISE Education Cayman Ltd - American Depositary Shares (REDU)
Last rise education cayman ltd - american depositary shares earnings: 3/12 04:10 pm
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US:NASDAQ Investor Relations:
ir.risecenter.com
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Source: GlobeNewswire
BEIJING, June 06, 2018 (GLOBE NEWSWIRE) -- RISE Education Cayman Ltd ("RISE" or the “Company”) (NASDAQ:REDU), a leading junior English Language Training (“ELT”) provider in China, today announced that the previously announced registered follow-on public offering of American depositary shares (“ADSs”) by the selling shareholders of the Company (the “Selling Shareholders”) was priced at US$14.75 per ADS. The Selling Shareholders will sell 7,000,000 ADSs, each representing two ordinary shares of the Company. One of the Selling Shareholders has granted the sole underwriter a 30-day option to purchase up to an aggregate of 1,050,000 additional ADSs. The gross proceeds to the Selling Shareholders will be US$103.25 million, assuming the option to purchase additional ADSs is not exercised. Morgan Stanley & Co. International plc acted as the sole underwriter for the offering. A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Co
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