FOLLOWUP: Plans to Offer 164.5 Million Shares in the Price Range of $0.5 to $1.41 Per Share

March 14, 2019 5:02 pm

BEIJING (PingWest) - New Oriental subsidiary will launch its roadshow this Thursday. The company sets the price range of $0.5 to $1.41 per share and expects to raise from US$195 million (HK$1,530 million) to US$230 million (HK$1,826 million) in total, according to Finet Group.

Additionally, plans to list its shares on Hong Kong Stock Exchange (HKSE) on March 28.

For the use of funds, added that 30% of the funds raised in IPO will be used for employee training, 30% for business acquisitions or investments, 10% for R&D in courses, 10% for investment in upgrading technological infrastructure, and the rest 10% for general operation and use.

Source: Finet Group