NEW YORK Dec 11 ChinaEdu Corp CEDU.O, a
Chinese educational service provider said on Tuesday said it
raised $68.2 million through an initial public offering.
The 6.8 million American Depositary Share offering priced at
$10 per share.
The company sold about 5.5 million shares in the offering,
while the remaining 1.3 million were being sold by shareholders.
ChinaEdu expects to receive net proceeds of $47.3 million
from the offering as it will not receive any proceeds from the
sale of shares by the selling shareholders.
The company plans to trade its shares on Nasdaq under the
symbol "CEDU" and use the proceeds of the offering to develop
its learning centers, construct new campuses and expand its
business, it said.
(Reporting by Emily Chasan; editing by Elizabeth Fullerton)