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China Distance Education prices at low end of revised range

July 30, 2008
DL

China Distance Education, which provides online professional education and test preparation courses in China, priced its 8.8 million ADS offering at $7 on Tuesday, the low end of the revised price range. The ADSs, each representing four ordinary shares, are expected to begin trading Wednesday on the NYSE Arca under the ticker DL. Citi and Merrill Lynch were the joint bookrunning managers on the deal.