BUSINESS

EDTECHX, METEN ANNOUNCE SUCCESSFUL MERGER CLOSING, CAPITAL RAISE

31/03/2020 12:45 PM

KUALA LUMPUR, March 31 -- EdtechX Holdings Acquisition Corp (EdtechX) and Meten International Education Group (Meten), China’s leading English language training service provider have successfully completed their previously announced merger transaction.

According to a statement, EdtechX is the world’s first special purpose acquisition company focused on investing in the education services and education technology industry, headquartered in London.

The combined entity will operate as Meten EdtechX Education Group Ltd (Meten EdtechX) and continue to focus on providing English language and future skills training for Chinese students and professionals.

In connection with the closing of the merger transaction, EdtechX and Meten completed the private placement of US$36 million from institutional investors including Azimut and Xiamen ITG Holding Group. (US$1 = RM4.32)

Meten EdtechX’s ordinary shares will trade on the Nasdaq stock exchange under the symbol METX.

Benjamin Vedrenne-Cloquet and Charles McIntyre have joined the Board of Meten EdtechX as independent directors, supporting Meten’s founders and management team with international investor relations and the implementation of their acquisition and digital expansion strategy.   

More details on the merger at http://investor.metenedu-edtechx.com/ 

-- BERNAMA


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