Tencent Makes $50M Pre-IPO Investment In New Oriental Online Unit

Tencent Holdings Ltd. has agreed to invest RMB320 million (US$50 million) in the online education platform of New Oriental Education and Technology Group Inc. before the unit's planned initial public offering, says a company announcement. An affiliate of Tencent has agreed to make the investment in Beijing New Oriental Xuncheng Network Technology Co., Ltd., which […]


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