Tsinghua Unigroup engineers Xueda Education re-listing in Shenzhen
Xueda Education Group, a Chinese tutoring services provider, has agreed to be privatized by Xiamen Insight Investment, a Shenzhen-listed shell company controlled by Tsinghua Unigroup, for approximately $368.8 million. Xueda will leave the New York Stock Exchange and re-list in Shenzhen via a backdoor listing.
According to a statement, Xiamen Insight is offering to $5.50 in cash per share for all outstanding 62.70 million American Depositary Shares (ADS), up from $3.38 when Insight made a non-binding offer to...
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