(Reuters) - Shares of Tarena International Inc (TEDU.O), a provider of IT education in China, rose as much as 16 percent in their market debut, valuing the company at about $518 million.
The Beijing-based company’s initial public offering raised about $138 million after the IPO was priced at $9 per American Depositary Share, the mid-point of its expected range.
Of the 15.3 million Class A shares on offer, the company sold 11.5 million, with the rest being sold by selling stockholders.
Tarena’s shares opened at $9.86 and touched a high of $10.44 on the Nasdaq on Thursday.
Goldman Sachs (Asia) LLC and Credit Suisse were the lead underwriters to the offering.
Reporting By Neha Dimri in Bangalore; Editing by Maju Samuel