Chinese leading K-12 company TAL announced on November 12th that a global growth investment firm has agreed to purchase a total of approximately US$1.5 billion of newly issued Class A common shares of the company.
According the company’s website, the transaction is subject to customary closing conditions and the closing is expected to take place in November 2020. The investor has agreed not to sell, transfer or dispose of any shares acquired in the transaction for six months after the closing.
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