<article>China Online Education Group, a China-based online education platform focusing on English proficiency, plans a US-initial public offering (IPO) of up to $100 million. It filed a <a style="color: #000080;" href="http://www.sec.gov/Archives/edgar/data/1659494/000104746916013128/a2228540zf-1.htm#di49001_capitalization">draft prospectus</a> to the SEC on Thursday.</article>

China Online Education Group, a China-based online education platform focusing on English proficiency, plans a US-initial public offering (IPO) of up to $100 million. It filed a <a style="color: #000080;" href="http://www.sec.gov/Archives/edgar/data/1659494/000104746916013128/a2228540zf-1.htm#di49001_capitalization">draft prospectus</a> to the SEC on Thursday.
It says it will be listing an undisclosed amount of American depositary shares (ADS), which represent ordinary shares with a par value of $0.0001 each.
It will primarily use the proceeds to invest in sales and marketing activities, course development and technology infrastructure.
Morgan Stanley and Credit Suisse are underwriting the IPO. No pricing terms were disclosed.
According to the Frost &amp; Sullivan report, it is the largest online English education platform in China as measured by gross billings and the number of available foreign teachers in 2015.
The Beijing based firm says in the filing that its gross billings reached RMB353.3 million ($54.16 million) last year, rising 202.1 per cent from 2014. The number of available teachers also surged from 2,100 teachers in 2014 to around 4,700 by the end of last year.
Meanwhile, China’s online English education market in terms of gross billings increased from RMB3.4 billion ($0.5 billion) in 2010 to RMB18.3 billion ($2.8 billion) in 2015, representing a compound annual growth rate of 40 per cent. It is expected to further grow to RMB160.9 billion ($24.8 billion) in 2020, growing 54.5 per cent per annum from 2015.
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China Online Education Group, a China-based online education platform focusing on English proficiency, plans a US-IPO of up to $100 million.

China Online Education Group plans $100m IPO in US

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China Online Education Group plans $100m IPO in US

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