Stock Alert: GSX Techedu Trades 6% Higher

By RTTNews Staff Writer   ✉   | Published:

Shares of Chinese online K-12 large-class after-school tutoring service provider GSX Techedu Inc. (GSX) are rising more than 12% Monday morning after the company said that certain investors have agreed to buy $870 million of shares of the company.

The investors have agreed to purchase through a private placement a total of $ 870 million of newly issued Class A ordinary shares of the Company, representing approximately 6.2% of its total outstanding shares, the company said.

The private placement is expected to be closed in December 2020.

GSX, currently at $64.58, has been trading in the range of $19.04- $141.78 in the past 52 weeks.

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