According to documents disclosed by the Hong Kong Stock Exchange (HKEx) on Monday, Tencent Holdings sold 74.6 million shares in New Oriental's Koolearn from June 15 to June 16.
Koolearn and Tmall Genie announced a new cooperation between the two companies on Wednesday. The two sides will carry out comprehensive cooperation in technology, content and services of smart education hardware.
Michael Yu acquired another 1.429 million shares of Koolearn, an online education company under New Oriental Education, at an average price of HK $6.95 per share.
Koolearn Technology Holding Limited, an online education company under New Oriental, announced on Monday that the group will stop off-campus training services for compulsory education in mainland China.
Koolearn Technology Holding Limited, an online education company under New Oriental Education & Technology Group Inc., filed for an initial public offering to the Hong Kong Stock Exchange on July 17.