TAL International Group, Inc. announced today the closing on October 17, 2005 of its initial public offering of 11,500,000 shares of common stock at a price to the public of $18.00 per share. All shares were sold by TAL. TAL has granted the underwriters the option to purchase up to 1,725,000 additional shares of common stock from certain shareholders of TAL. Net proceeds to TAL from the offering, after underwriting discounts and commissions, were $192,510,000.
The managing underwriters of the public offering are Credit Suisse First Boston LLC, Deutsche Bank Securities, Inc., Jefferies & Company, Inc. and UBS Securities LLC acting as joint book-running managers, and Robert W. Baird & Co. Incorporated, Morgan Keegan & Company, Inc. and Fortis Securities LLC acting as co-managers.
The offering is being made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained from the prospectus departments of Credit Suisse First Boston LLC at One Madison Avenue, New York, NY 10010, Deutsche Bank Securities LLC at 1251 Avenue of the Americas, 25th Floor, New York, NY 10020 or Jefferies & Company, Inc., 520 Madison Avenue, 12th Floor, New York, NY 10022.
A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About TAL International Group, Inc.
TAL is one of the world’s largest lessors of intermodal freight containers with 19 offices in 12 countries and approximately 195 third party container depot facilities in 40 countries. The Company’s global operations include the acquisition, leasing, re-leasing and subsequent sale of multiple types of intermodal containers. TAL’s fleet consists of over 620,000 containers representing approximately one million twenty-foot equivalent units (TEU). This places TAL among the world’s largest independent lessors of intermodal containers as measured by fleet size.
“Safe Harbor Statement” under the Private Securities Reform Act of 1995
Statements in this press release regarding TAL International Group, Inc.’s business that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Readers are cautioned that these statements involve risks and uncertainties, are only predictions and may differ materially from actual future events or results. For a discussion of such risks and uncertainties, see “Risk Factors” in the Company’s Registration Statement on Form S-1, File Number 333-126317, filed with the Securities and Exchange Commission.