China Distance Education Holdings, which provides online professional education and test preparation courses in China, lowered its proposed IPO price range on Tuesday. The company originally filed for an 8.8 million ADSs offering at a range of $9-$11, but now plans to price its ADSs, each representing four ordinary shares, between $7 and $8. Citi and Merrill Lynch are the lead underwriters on the deal, which is expected to price later this evening.
