Education wants to buy back 12 million shares of unregistered common stock

Summary: View latest quotes Beijing time March 26 Morning news, School of Education (Nyse:xue) announced in Tuesday, the company and some of its senior managers have jointly issued an offer to buy from a co-founder and some IPO investors in the hands of repurchase or purchase 12

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Beijing time March 26 Morning news, School of Education (Nyse:xue) announced in Tuesday, the company and some of its senior managers have jointly issued an offer to buy from a co-founder and some IPO investors in the hands of the repurchase or purchase of 12 million unregistered major education of ordinary shares.

The repurchase is aimed at 2 million shares of unregistered common shares held by Yiu Jingbo, co-founder of Education, and CDH Xueda 2¥q and Warburg Pincus, LLC Two IPO venture capital institutions holding 4 million shares and 6 million shares of unregistered common shares respectively. 1 shares of the education ads (US depository shares) correspond to 2 common shares.

The two sides negotiated the total price of about 31.1 million U.S. dollars, of which, the education Board agreed to be funded by the company 28.2 million U.S. dollars buy back or buy 10.9 million common shares, including CEO Jinxin and CFO Lu Zhenhua senior managers will personally contribute about 2.9 million U.S. dollars to buy 1.1 million common shares.

After the repurchase and purchase transaction was completed, Yiu Jingbo, CDH Xueda 2¥q and Warburg Pincus, LLC held the major education common shares of 11.1 million shares, 14.4 million shares and 8.6 million shares respectively.