KinderWorld Education Group said to consider $53m Singapore IPO

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KinderWorld Education Group, which runs schools across Southeast Asia, is considering a Singapore initial public offering that could raise about S$70 million ($53 million), people with knowledge of the matter said.

The company is working with advisers on a planned IPO that could value it at about S$300 million, according to the people, who asked not to be identified because the process is private. KinderWorld is aiming to sell shares as soon as the second half of the year, the people said.

Southeast Asian school operators have been attracting interest from foreign investors including TPG and Swedish buyout firm EQT Partners AB, which are betting that rising incomes will translate into increased education spending. A listing of KinderWorld would follow an IPO of MindChamps PreSchool Ltd. last year that raised S$49 million, data compiled by Bloomberg show.

Shares of MindChamps have fallen 1.2 percent since the company began trading in Singapore in November, trailing the 4.4 percent gain in the benchmark Straits Times Index.

KinderWorld was founded in 1986 in Singapore and expanded abroad starting in the late 1990s, its website shows. It now has 17 campuses in Vietnam, Malaysia and Thailand. The company’s Pegasus International College, based in Danang, Vietnam, provides post-secondary education courses in fields including hospitality, tourism and culinary arts, according to its website.

Deliberations on a listing of KinderWorld are at an early stage, and details of the potential offering could change, the people said. A representative for KinderWorld said there’s no comment.

Malaysia’s APIIT Education Group was sold to KV Asia Capital Pte and management this year in deal valuing the company at 725 million ringgit ($186 million) including debt. Last year, EQT Partners bought a stake in English-teaching school ILA Vietnam, while TPG invested in Vietnam Australia International School.

Bloomberg

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.