TAL Education Announces Investment By Equity Investment Firm - Quick Facts

(RTTNews) - TAL Education Group (TAL) announced that a long-term equity investment firm has agreed to purchase a total of approximately $500 million of newly issued class A common shares of the company. Following the transaction, the investor will hold, taking into account its existing holding, approximately 7% of the company's outstanding shares.

TAL Education Group noted that the investor has agreed not to sell, transfer or dispose of any shares acquired in the transaction for six months after the closing.

TAL Education Group is a K-12 after-school tutoring services provider in China. It offers tutoring services to students from pre-school to the twelfth grade through three flexible class formats: small classes, personalized premium services, and online courses. The company's learning center network currently covers over 50 cities in China.