BEIJING, March 12, 2014 /PRNewswire/ -- China Distance
Education Holdings Limited (NYSE: DL) ("CDEL", or the "Company"), a
leading provider of online education in China focusing on professional education,
today announced that the follow-on public offering of an aggregate
of 4,000,000 American Depositary Shares ("ADSs") by the Company and
several selling shareholders was priced at US$21.00 per ADS. The Company will be offering
1,500,000 ADSs and the several selling shareholders will be
offering 2,500,000 ADSs. Each ADS represents four ordinary shares
of the Company. In connection with this offering, the Company and
the selling shareholders have granted the underwriters a 30-day
overallotment option to purchase up to an aggregate of 225,000
additional ADSs from the Company and 375,000 additional ADSs from
the selling shareholders at the public offering price of
US$21.00 per ADS.
The net proceeds to the Company, after deducting underwriting
discounts and commissions and listing expenses paid by the Company,
will be approximately US$29.0
million, or US$33.5 million if
the underwriters exercise their overallotment option in full. CDEL
will not receive any proceeds from the sale of the ADSs by the
selling shareholders. The joint bookrunners of the offering are
Morgan Stanley & Co. International plc and Credit Suisse
Securities (USA) LLC, and the
co-managers of the offering are Oppenheimer & Co. Inc. and
Piper Jaffray & Co..
A registration statement relating to these securities was
declared effective by the U.S. Securities and Exchange Commission
(the "SEC") on March 11, 2014. This
offering is being made by means of a written prospectus forming a
part of the effective registration statement. A copy of the
prospectus related to this offering may be obtained by visiting the
SEC's website at www.sec.gov or by contacting (i) Morgan Stanley,
Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY, 10014, United States of America, or by calling
1-866-718-1649, or by email at prospectus@morganstanley.com; (ii)
Credit Suisse Securities (USA)
LLC, Attention: Prospectus Department, One Madison Avenue 1B,
New York, New York 10010, by email
at newyork.prospectus@credit-suisse.com or by calling
1-800-221-1037; (iii) Oppenheimer & Co. Inc., Attention:
Syndicate Prospectus Department, 85 Broad Street, 26th Floor,
New York, NY 10004, by email at
EquityProspectus@opco.com or by calling (212) 667-8563; and
(iv) Piper Jaffray & Co.,
Attention: Prospectus Department, 800 Nicollet Mall, Suite 800,
Minneapolis, MN 55402, by email at
prospectus@pjc.com or by calling 1-800-747-3924.
This announcement shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of,
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
The securities referred to herein have not been and will not be
registered under the applicable securities laws of any jurisdiction
outside of the United States of
America.
About China Distance Education Holdings Limited
China Distance Education Holdings Limited is a leading provider
of online education in China
focusing on professional education. The courses offered by the
Company through its websites are designed to help professionals and
other course participants obtain and maintain the skills, licenses
and certifications necessary to pursue careers in China in the areas of accounting, healthcare,
E&C, and other industries. The Company also offers other
professional education courses for the national judicial
examination, English proficiency test for professionals, computer
application skills, and other occupational certifications or
skills, online test-preparation courses for self-taught learners
pursuing higher education diplomas or degrees, test preparation
courses for university students intending to take the nationwide
graduate school entrance exam, and online language courses. For
further information, please visit http://ir.cdeledu.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "may," "should," "potential," "continue," "expect,"
"predict," "anticipate," "future," "intend," "plan," "believe,"
"is/are likely to," "estimate" and similar statements. The Company
may also make written or oral forward-looking statements in its
periodic and annual reports to the SEC, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including statements about the Company's beliefs
and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: our goals and growth strategies; our
future prospects and market acceptance of our courses and other
products and services; our future business development and results
of operations; projected revenues, profits, earnings and other
estimated financial information; projected enrollment numbers; our
plans to expand and enhance our courses and other products and
services; competition in the education and test preparation
markets; and changes in PRC laws, regulations and policies,
including those applicable to the Internet and Internet content
providers, the education and telecommunications industries, mergers
and acquisitions, taxation and foreign exchange.
Further information regarding these and other risks is included
in the Company's annual report on Form 20-F and other documents
filed or furnished with the SEC. All information provided in this
press release is as of the date of this press release. The Company
does not undertake any obligation to update any forward-looking
statement, except as required under applicable law.
For investor and media inquiries, please contact:
China Distance
Education Holdings Limited
Lingling Kong, IR
manager
Tel:
+86-10-8231-9999 ext1805
Email:
IR@cdeledu.com
|
The Piacente Group |
Investor Relations
Brandi
Piacente
Tel: +1
212-481-2050
Email:
dl@tpg-ir.com
|
SOURCE China Distance Education Holdings Limited