China Online Education Group Announces Pricing of Initial Public Offering

BEIJING, June 10, 2016 /PRNewswire/ -- China Online Education Group ("51Talk" or the "Company") (NYSE: COE), a leading online education platform in China, with core expertise in English education, today announced that it has priced its initial public offering of 2,400,000 American depositary shares ("ADSs"), at $19.00 per ADS for a total offering size of approximately US$45.6 million, assuming the underwriters do not exercise their over-allotment option to purchase additional ADSs. Each ADS represents 15 Class A ordinary shares of the Company. The ADSs are expected to begin trading on the New York Stock Exchange today under the ticker symbol "COE."

The Company has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 360,000 additional ADSs to cover over-allotments.

Morgan Stanley & Co. International plc and Credit Suisse Securities (USA) LLC acted as joint bookrunners for the offering.

Concurrently with, and subject to, the completion of this offering, the Company will close private placements with DCM funds (through two affiliated entities) and Sequoia (through SCC Growth I Holdco A, Ltd.) at an aggregate investment amount of US$20.0 million.

The Company's registration statement relating to the offering has been filed with, and declared effective by, the United States Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering of the securities is being made only by means of a prospectus forming a part of the effective registration statement. A copy of the prospectus relating to the offering may be obtained by contacting:

Morgan Stanley & Co. Incorporated
Attention: Prospectus Department
180 Varick Street, 2nd Floor
New York, NY 10014, United States
1-866-718-1649
[email protected]

Credit Suisse Securities (USA) LLC
Attention: Prospectus Department
One Madison Avenue
New York, NY 10010, United States
1-800-221-1037
[email protected]

About China Online Education Group

China Online Education Group (NYSE: COE) is a leading online education platform in China, with core expertise in English education. The Company's mission is to make quality education accessible and affordable. The Company's online and mobile education platforms enable students across China to take live one-on-one interactive English lessons with overseas foreign teachers, on demand. The Company connects its students with a large pool of highly qualified foreign teachers that it assembled using a shared economy approach, and employs student and teacher feedback and data analytics to deliver a personalized learning experience to its students.

For more information, please visit http://ir.51talk.com.

For investor and media inquiries, please contact:

China Online Education Group
Investor Relations
+86 (10) 5692-8909
[email protected]

The Piacente Group, Inc.
Brandi Piacente
+86 (10) 6535-0148
+1-212-481-2050
[email protected]

SOURCE China Online Education Group