RISE Education Cayman Ltd. (REDU) expects to raise $143 million in an initial public offering on Friday, October 20th, IPO Scoop reports. The company will be issuing 11,000,000 shares at a price of $12.00-$14.00 per share.
In the last twelve months, RISE Education Cayman Ltd. generated $126.3 million in revenue and $14.4 million in net income. The company has a market cap of $715 million.
Morgan Stanley and Credit Suisse served as the underwriters for the IPO.
RISE Education Cayman Ltd. provided the following description of their company for its IPO: “We operate in China’s junior ELT market, which refers to after-school English teaching and tutoring services provided by training institutions to students aged three to 18. We are a leader in China’s junior ELT market according to Frost & Sullivan, and we ranked second in 2016 with a market share of 10.7% in terms of gross billings in the premium segment. Furthermore, in 2016, we ranked first in the junior ELT market in Beijing with a market share of 11.4% and ranked second in the junior ELT market in tier-one cities with a market share of 5.9%, both in terms of gross billings according to Frost & Sullivan. “.
RISE Education Cayman Ltd. was founded in 2008 and has 2370 employees. The company is located at Room 101, Jia He Guo Xin Mansion, No.15 Baiqiao Street, Guangqumennei, Dongcheng District, Beijing 100062, People’s Republic of China and can be reached via phone at +86 10-8559-9000.
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