51Talk Online Education Group Announces ADS Ratio Change

SINGAPORE, Dec. 5, 2022 /PRNewswire/ -- 51Talk Online Education Group ("51Talk" or the "Company") (NYSE: COE), a global online education platform with core expertise in English education, announced today that the Company will change the ratio of its American depositary shares ("ADSs") to Class A ordinary shares (the "ADS Ratio") from one (1) ADS representing fifteen (15) Class A ordinary shares to one (1) ADS representing sixty (60) Class A ordinary shares. The intention of the ADS ratio change is to prepare the Company for a contemplated transfer of the listing of its ADSs from the New York Stock Exchange to the Nasdaq Capital Market. The management of the Company believes that the Nasdaq Capital Market is a more suitable listing venue to reflect the shift of the Company's business focus from China's K-12 online education market to the emerging international K-12 online education market. "The intended transfer of the listing venue demonstrates the management's confidence in its international strategy and the commitment to maintain the Company's status as a US-listed company," Mr. JiaJia Huang, founder and Chief Executive Officer of 51Talk, commented.

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