Tarena International, China's largest education network for professional IT services and software engineering, announced terms for its IPO on Wednesday. The Beijing, China-based company plans to raise $138 million by offering 15.3 million shares (25% insider) at a price range of $8 to $10. At the midpoint of the proposed range, Tarena would command a fully diluted market value of $521 million.
Tarena International, which was founded in 2002 and booked $93 million in sales for the fiscal year ended December 31, 2013, plans to list on the NASDAQ under the symbol TEDU. It initially filed confidentially on November 26, 2013. Goldman Sachs and Credit Suisse are the joint bookrunners on the deal.
