China’s First High-School Education Group raises $75m in New York IPO

First High-School Education Group, which operates private high schools and offers tutoring services in China, has gone public on the New York Stock Exchange (NYSE) on March 11, 2021. Source: First High-School Education Group

First High-School Education Group, which operates private high schools and offers tutoring services in China, raised $75 million in an initial public offering (IPO) on the New York Stock Exchange (NYSE) on Thursday.

The firm, which claims to be the biggest operator of private high schools in western China, has sold 7.5 million American Depositary Shares (ADS) at a price of $10 apiece in the IPO offering. At the midpoint of its proposed range of $9.5 to $10.5, First High-School Education Group commanded a market value of $289 million.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter