April 3, 2014 / 2:55 PM / in 4 years

Shares of Chinese education company Tarena rise in debut

(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

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