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Tarena's Recent Listing Cues Up More Chinese IPOs In New York
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Tarena's Recent Listing Cues Up More Chinese IPOs In New York

Apr 4 2014, 4:17pm CDT | by

As excitement builds over the IPO of Alibaba in New York, IT education service Tarena International became the first listing of the year from China as a handful of Chinese companies look to go...

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23 weeks ago

Tarena's Recent Listing Cues Up More Chinese IPOs In New York

Apr 4 2014, 4:17pm CDT | by

As excitement builds over the IPO of Alibaba in New York, IT education service Tarena International became the first listing of the year from China as a handful of Chinese companies look to go public this quarter in the U.S.

Silicon Dragon interviewed Shaoyun Han, Founder, Chairman and Chief Executive Officer, on Tarena’s initial day of trading on NASDAQ. He said the IPO is a milestone event and a profile raiser for the company. He expects revenues to increase 50 percent this year and 30 percent in 2015 for Tarena, which counts $92.8 million in revenues. The fast growth is not so atypical of IT-related companies going after opportunities in a still-heated tech economy.

Proceeds from the $138 million raised at the IPO — which saw the stock price rise by 20% to $10.80 on the opening day – will be used to improve training centers in 33 cities across China and to make acquisitions  as the market leader in the IT training space expands. The Chinese startup has financial backing from IDG Ventures and JAFCO Ventures and a private placement totaling $30 million, said the founder, who formed Tarena in 2001.

Chinese companies are recovering from the doldrums of 2012 when only two listed in the U.S. – VIPShop and social gaming and networking startup YY. Last year, eight China-based tech companies went public in the U.S. See Forbes post, rebound.

With a flurry of big-ticket acquisitions by the giant Internet companies in China — Tencent, Alibaba and Baidu — founders of small Chinese businesses have trade deals as an alternative exit route to cash out from their hard entrepreneurial work. It will be interesting to watch how the IPO story unfolds this year after the roller coaster of the past two years.

 
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2 weeks ago

Khazanah throws MAS RM6b lifeline

Aug 29 2014 5:01pm CDT | Source: Business Times Singapore

August 30, 2014 1:15 AMKHAZANAH Nasional will inject RM6 billion (SS$2.4 billion) over three years to resuscitate loss-making Malaysia Airlines (MAS) under a recovery plan that includes even an Act of Parliament. Other key moves are migrating its operations, assets and liabilities to a new company (NewCo) and slashing the workforce of 20,000 by 30 per cen ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

2 weeks ago

MAS posts loss of RM307m for Q2

Aug 28 2014 5:00pm CDT | Source: Business Times Singapore

August 29, 2014 1:13 AMMALAYSIA Airlines (MAS) registered a loss of RM307 million (S$122 million) for the second quarter to end-June, but warned of worse to come in the second half when the "full financial impact of the d ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

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