Editorial Summary

Beijing-based online education company China Distance Education Holdings Limited filed with the US Securities and Exchange Commission on Monday to raise up to $115 million through a listing on the NYSE Arca. Citi and Merrill Lynch are joint lead underwriters for the deal. China Distance Education runs a network of 14 websites that offer professional certification training and test preparation courses in many industries including law, accounting, and healthcare. The company also has websites for online language learning. China Distance Education was founded in 2000 and claims to be the largest online language company in China. China Distance Education had 504,000 students for the fiscal year ending September 30, 2007. The company generated net revenue of $11.8 million in fiscal 2007, up from $5.7 million the year before. Net income for fiscal 2007 was $5.4 million, up from $49,000 in the year-ago period. China Distance Education has applied to trade under the symbol "DL".