China Distance Education IPO ADS: Finance Trading Times

China Distance Education IPO ADS

A new IPO is coming to the capital markets through the ADS or American Depository Shares. The IPO or initial public offering belongs to China Distance Education Holdings Limited which is an online education provider.
China Distance Education IPO ADS
What is the expected size of the China Distance Education IPO?
The China Distance Education IPO is expected to raise around 110 million USD from its initial public offering. This size is lower than the earlier estimate of around 115 million USD.

How many ADS shares will be sold through the China Distance Education IPO?
Around 8.75 million American Depositary Shares or ADS will be sold through the China Distance Education IPO.

What is the price range or price band of China Distance Education IPO?
The company has priced the ADS shares of China Distance Education IPO in the range of $9 to $11 per ADS.

Where will the capital raised from the China Distance Education IPO be used?
The capital raised from China Distance Education IPO will be used for general corporate purposes and potential acquisitions among other things.

What does each ADS or American Depository share of China Distance Education IPO represent?
Each ADS represents four ordinary shares of China Distance Education IPO.

What are the financial results and business valuations of China Distance Education Company?
For the year-ended Sept. 30, 2007, the company posted net income of $5.4 million, compared with $49,000 in the prior year.
Revenue doubled to $11.8 million for the full-year 2007 compared with $5.7 million in the previous year.
The underwriters of the issue – CitiBank , Merrill Lynch, Oppenheimer and Piper Jaffray have the option to buy up to 1.3 million additional ADSs to cover over-allotments, if any.
The company has applied for an NYSE Arca listing under the symbol "DL."
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