BEIJING, Feb. 3, 2016 /PRNewswire/ -- China Distance Education Holdings Limited (NYSE: DL) ("CDEL", or the "Company"), a leading provider of online education in China focusing on professional education, today announced that its majority-owned subsidiary Beijing Zhengbao Yucai Education Technology Co., Ltd. ("Zhengbao Yucai") has submitted an application to the National Equities Exchange and Quotations ("NEEQ") to list on the New Third Board, the over-the-counter stock exchange in China.
Zhengbao Yucai provides business start-up training programs to university students, job seekers and individuals who are interested in learning how to launch new businesses. The program leverages the concepts and training framework of an international organization called PEN-International, enabling program participants to set up their own simulated companies and providing them with opportunities to participate in virtual business dealings with other simulated companies from both inside China and around the world. Zhengbao Yucai submitted its application to list on the New Third Board in an effort to further enhance the Company's brand and visibility within the China market, and offer the Company the opportunity to raise capital from the Chinese capital markets to fund future growth.
The New Third Board was established by the State Council in 2012 as a national over-the-counter stock exchange to supplement trading activities on the Shanghai and Shenzhen stock exchanges, including the related Growth Equity Market (GEM) exchanges. The New Third Board allows for trading of stocks of growth companies that do not otherwise satisfy the requirements for listing on the main Shanghai and Shenzhen stock exchanges.
There is no assurance that Zhengbao Yucai will successfully list on the New Third Board. Zhengbao Yucai's listing is subject to, among other things, market and business conditions and Zhengbao Yucai satisfying relevant rules of the China Securities Regulatory Commission and the applicable securities exchange and other applicable registration, listing and offering requirements and obtaining requisite regulatory approvals of its listing application.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts, but instead are predictions about future events. Future events are inherently uncertain, and our forward-looking statements may turn out to be incorrect. The Company may decide not to list Zhengbao Yucai's shares. The Company and Zhengbao Yucai may not realize the anticipated benefits of the listing of Zhengbao Yucai's shares. The forward-looking statements in this press release speak only as of the date on which they are made, and we assume no obligation to update any forward-looking statements except as required by law.
About China Distance Education Holdings Limited
China Distance Education Holdings Limited is a leading provider of online education in China focusing on professional education. The courses offered by the Company through its websites are designed to help professionals seeking to obtain and maintain professional licenses and to enhance their job skills through our professional development courses in China in the areas of accounting, healthcare, engineering & construction, and other industries. The Company also offers other professional education courses for the national judicial examination, online test preparation courses for self-taught learners pursuing higher education diplomas or degrees, test preparation courses for university students intending to take the nationwide graduate school entrance exam, and online language courses. We also offer third-party developed online courses through our Online Open Learning Platform, a proprietary education platform that allows people to share their educational content or deliver live courses online. For further information, please visit http://ir.cdeledu.com.
SOURCE China Distance Education Holdings Limited