The Duowan Entertainment-backed English language learning platform has raised $45.6m in a US initial public offering and will secure another $20m through a private placement.
China Online Education Group, the China-based operator of English language learning platform 51Talk, raised $45.6m in an initial public offering on the New York Stock Exchange on Friday.
The offering provided exits to investors including online gaming platform Duowan Entertainment.
The company priced 2.4 million American depositary shares (ADSs) at $19 each. Existing investors DCM and Sequoia Capital will invest a further $20m through a private placement once the IPO formally closes.
Joint bookrunners Morgan Stanley and Credit Suisse…
