51Talk Online Education Group (COE) - Dilution Analysis

Visualizing historical and potential share dilution over time

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Dilution Analysis

Low Risk

Limited dilution potential

Last updated: April 23, 2026

Risk Assessment Details

Potential Dilution: 0.0% of current shares

Recent Dilution: 1.62% (2 years)

Historical Dilution Factor: minimal recent dilution

Outstanding Shares

340M

Potential Supply

Additional shares possible

Splits

None

Past 2 years

Summary

COE currently has 341M outstanding shares. with minimal authorized share overhang for future dilution. The company has minimally diluted shareholders by 1.62% over the past 2 years.

Share Structure Timeline

Outstanding Shares

Total Supply

Historical Data Points

Date	Event	Outstanding
Apr 23, 2026	20-F filing \| 341.1M shares outstanding	340M
Apr 25, 2025	20-F filing \| 335.6M shares outstanding	340M
Apr 29, 2024	20-F filing \| 328.5M shares outstanding	330M
Apr 06, 2023	20-F filing \| 319.6M shares outstanding	320M
May 02, 2022	20-F filing \| 308.4M shares outstanding	310M
Apr 07, 2021	20-F filing \| 304.5M shares outstanding	300M
Apr 06, 2020	20-F filing \| 88.9M shares outstanding	89M
Apr 06, 2020	F-3 filing: The filing is an F-3 form by China Online Education Group to register for offering and selling Class A ordinary shares, including those represented by American depositary shares (ADSs), by the company and potentially by selling shareholders, with the specifics of the offerings to be detailed in future prospectus supplements.	N/A

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