ChinaEdu to Go Public on Nasdaq

BEIJING, December 12, 2007 (SinoCast via COMTEX)
Beijing-based online degree services provider ChinaEdu Corp. (CEDU) was scheduled to go public on the Nasdaq Global Market on December 11, 2007 (the Beijing Time).

The company filed its application for its initial public offering to the US securities regulators on November 26 of this year. It planned to offer 6.82 million American depositary shares, including 5.46 million newly issued ADSs and 1.36 million ADSs from the original shareholders.

In addition, the underwriters can buy additional 1.02 million ADSs from the company or the shareholders. Thus the total offering will amount to 7.84 million ADSs.

The issue price is between USD 10 and USD 12 and the proceeds from the IPO will hit USD 94 million.

After the listing of ChinaEdu and New Oriental Education and Technology Group Inc. (NYSE: EDU), the largest provider of private educational services in China, 21edu.com and Juren plan to make their debuts on the Nasdaq Global Market in 2009 and 2010, respectively.