China Distance Education Prices Follow-on Public Offering At $21 Per ADS

(RTTNews) - China Distance Education Holdings Limited (DL) Wednesday said the follow-on public offering of an aggregate of 4 million American Depositary Shares by the company and several selling shareholders was priced at $21.00 per ADS.

The company will be offering 1.5 million ADSs and the selling shareholders will be offering 2.5 million ADSs. Each ADS represents four ordinary shares of the company.

In connection with this offering, the company and the selling shareholders have granted the underwriters a 30-day overallotment option to purchase up to an aggregate of 225,000 additional ADSs from the company and 375,000 additional ADSs from the selling shareholders at the public offering price of $21.00 per ADS.