BEIJING, Nov. 7, 2016 /PRNewswire/ -- Tarena
International, Inc. (the "Company") (NASDAQ: TEDU), a leading
provider of professional education services in China, today announced that the Company,
through its wholly-owned subsidiary in the PRC, entered into a
definitive purchase agreement, pursuant to which the Company agreed
to purchase an office building, mainly for teaching purpose, and to
a lesser extent, for software research and development functions,
with a total consideration of RMB118.3
million. The premises is located in the Beijing
Economic-Technological Development Area (Yizhuang) and has an
aggregate gross floor area of 8,169.39 square meters. We expect to
begin business operations in the office building in the first half
of 2017.
"After careful consideration, we came to the conclusion that
purchasing real property space for a second multi-functional
learning center was critical to accommodate growing demand and
business expansion in the central and northern China including North-east, Tianjin, Hebei, Henan,
etc, as utilization rate of the multi-functional learning center
purchased earlier this year has reached over 80%," said Mr.
Shaoyun Han, founder, CEO and
chairman of Tarena. "We plan to offer students with more
diversified course offerings and practical skills trainings in this
office building that contains classrooms with an aggregate of
approximately 1,800 seats, and such seat capacity could fulfill new
student enrollment of approximately 5,000 annually. We believe it
is another important move to further improve our operational
efficiency and reduce rental cost in longer term."
About Tarena International, Inc.
Tarena International, Inc. (NASDAQ: TEDU) is a leading provider
of professional education services in China. Through its innovative education
platform combining live distance instruction, classroom-based
tutoring and online learning modules, Tarena offers professional
education courses in eleven IT subjects and three non-IT subjects.
Tarena also offers three kid education programs. Its professional
education courses provide students with practical skills to prepare
them for jobs in industries with significant growth potential and
strong hiring demand. Since its inception in 2002, Tarena has
trained over 322,000 students, cooperated with more than 600
universities and colleges and placed students with approximately
86,000 corporate employers in a variety of industries. For further
information, please visit http://ir.tedu.cn.
Safe Harbor Statement
This press release contains forward-looking statements made
under the "safe harbor" provisions of Section 21E of the Securities
Exchange Act of 1934, as amended, and the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as "will," "expects,"
"anticipates," "future," "intends," "plans," "believes,"
"estimates," "confident" and similar statements. Tarena may also
make written or oral forward-looking statements in its reports
filed with or furnished to the U.S. Securities and Exchange
Commission, in its annual report to shareholders, in press releases
and other written materials and in oral statements made by its
officers, directors or employees to third parties. Any statements
that are not historical facts and statements about Tarena's beliefs
and expectations, are forward-looking statements. Many factors,
risks and uncertainties could cause actual results to differ
materially from those in the forward-looking statements. Further
information regarding these and other risks, uncertainties or
factors is included in Tarena's filings with the U.S. Securities
and Exchange Commission. All information provided in this press
release is current as of the date of the press release, and Tarena
does not undertake any obligation to update such information,
except as required under applicable law.
For investor and media inquiries, please contact:
Helen Song
Investor Relations
Tarena International Inc.
Tel: +86-10-5621-9451
Email: ir@tedu.cn
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SOURCE Tarena International, Inc.