China Online Education Group (51Talk), a China-based online English education platform, announced terms for its IPO on Friday.
The Beijing, China-based company plans to raise $46 million by offering 2.4 million ADSs at a price range of $18 to $20. At the midpoint of the proposed range, it would command a fully diluted market value of $407 million.
China Online Education Group (51Talk) was founded in 2012 and booked $31 million in sales for the 12 months ended March 31, 2016. It plans to list on the NYSE under the symbol COE. Morgan Stanley and Credit Suisse are the joint bookrunners on the deal. It is expected to price during the week of June 6, 2016.
