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Stock Market & Financial Investment News

News Breaks
July 22, 2014
09:16 EDTATAIATA Inc. forms joint venture with New Oriental in China
ATA Inc. announced that it has entered into an agreement with New Oriental Education & Technology Group, a provider of private educational services in China, to form a joint venture that will provide online and mobile education and training to working professionals in China. Using New Oriental's existing Koolearn.com online education website and its distribution channels, the joint venture will develop a new online education and training website, as well as mobile apps, catering to the workforce in China with an initial focus on the healthcare, accounting, and finance industries. ATA will invest RMB 13.5M, representing a 45% stake in the new joint venture company, and New Oriental will invest RMB 16.5M for a 55% stake.
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February 3, 2016
08:29 EDTATAIATA Inc. announces private placement plan on New Third Board in China
ATA Inc. announced that its wholly owned subsidiary ATA Online Technology Limited has publicized a private placement plan in connection with no more than 16.76M common shares of ATA Online stock, representing approximately 30.0% of ATA Online's current shares outstanding prior to the private placement, priced at RMB 22.55 per common share. Total funds raised for the private placement are expected to amount to no more than RMB 377.9M, or approximately $57.5M at current exchange rates. The proceeds from this private placement are expected to be allocated toward increasing ATA Online's operating efficiencies, business development and other plans approved by the board to support ATA Online's future growth. ATA Online listed its shares on the National Equities Exchange and Quotations, or NEEQ, or New Third Board, in December 2015 to accelerate the growth of ATA's core testing services and other businesses, which are primarily conducted in China. In addition, the listing on the New Third Board allowed for flexibility to raise capital from the Chinese capital markets to fund ATA Online's future growth.

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