(RTTNews) - TAL Education Group (TAL), a K-12 after-school tutoring services provider in China, said that a global growth investment firm has agreed to purchase a total of about US$1.5 billion of newly issued Class A common shares of the company.
The investor will hold, taking into account its existing holding, about 8.35% of the company's outstanding shares.
The closing of deal 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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